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nventory problem: DUE DATE- Tuesday 10/4 Strand Corp has the following information: Beginning Inventory- 2,000 units @$20/unit $40,000 Purchased- 1,000 units @ $22/unite $22,000
nventory problem: DUE DATE- Tuesday 10/4 Strand Corp has the following information: Beginning Inventory- 2,000 units @$20/unit $40,000 Purchased- 1,000 units @ $22/unite $22,000 Purchased 1,500 units @$23/unite $34,500 Purchased 1850, 1,700 units $24/unit $40,800 Goods Available for Sale 6,200 units $137,300 Sold- 5,750 units for $50/each Ending Inventory 450 units REQUIRED for FIFO, LIFO and Weighted Average 1) Calculate the value of Ending Inventory 2) Calculate and show the schedule for Cost of Goods Sold 3) Calculate and show the schedule for Gross Profit 4) Calcalate and show the Gross Profit Percentage (carry out at least 1 decimal
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