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Need help finding the cost of goods sold using FIFO LIFO and weighted average please. Periodic inventory by three methods The beginning inventory for Midnight

Need help finding the cost of goods sold using FIFO LIFO and weighted average please. image text in transcribedimage text in transcribed

Periodic inventory by three methods The beginning inventory for Midnight Supplies and data on purchases and sales for a three-month period are shown below: Number Date Transaction of Units Per Unit Total Jan. 1 Inventory 7,500 $75.00 10 Purchase 85.00 22,500 11,250 $562,500 1,912,500 1,687,500 562,500 28 Sale 150.00 30 Sale 3,750 150.00 Feb. 5 Sale 1,500 150.00 225,000 10 Purchase 54,000 87.50 4,725,000 16 Sale 27,000 160.00 4,320,000 4,080,000 28 Sale 25,500 160.00 Mar. 5 Purchase 45,000 89.50 4,027,500 14 Sale 30,000 160.00 4,800,000 25 Purchase 7,500 90.00 675,000 4,200,000 30 Sale 26,250 160.00 1. Determine the inventory on March 31 and the cost of goods sold for the three-month period, using the first-in, first-out method and the periodic inventory system. Inventory, March 31 $ 1,010,625.00 $ 10,891,875.0 Cost of goods sold 2. Determine the inventory on March 31 and the cost of goods sold for the three-month period, using the last-in, first-out method and the periodic inventory system. Inventory, March 31 Cost of goods sold $ 881,250.00 $ 11,021,250.0 3. Determine the inventory on March 31 and the cost of goods sold for the three-month period, using the weighted average cost method and the periodic inventory system. Round the weighted average unit cost to the nearest cent. Inventory, March 31 Cost of goods sold $ 981,000.00 $ 10,921,500.0 4. Compare the gross profit and the March 31 inventories, using the following column headings. For those boxes in which you must enter subtracted or negative numbers use a minus sign. FIFO LIFO Weighted Average $ 19,875,000 Sales $ 19,875,000 $ 19,875,000 Cost of goods sold Gross profit Inventory, March 31 $ $ 8,983,125 1,010,625 $ $ 8,853,750 881,250 $ $ 8,953,500 981,000

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