On $\frac{7}{1}\frac{?}{19},$ purchased $50$ units of inventory on account for $$10$ per unit.

On $\frac{7}{13},$ purchased $250$ units of inventory on account for $$13$ per unit.

On $\frac{7}{25},$ purchased $70$ units of inventory on account for $$15$ per unit.

$4-$a$)$ On $7/31,$ sold $100$ units of Inventory $($recelving cash at the time of sale$)$ tor a

sales price of $$20$ per pair. Record the revenue side of the transaction below.

Also record the journal entry for the cost of goods sold assuming the business

utilizes FIFO for their inventory costing method.

$4-$b$)$ Assume the exact same facts as in entry $"4-$a$"$ above, except that the business

utilizes$\_$IIFQ for their inventory costing method. Record the two joumal entries

for the sale and cost of sale $($for $100$ units sold for $$20$ per pair$).$

$4-$c$)$ Assume the exact same facts as in entry $"4-$a$"$ above, except that the business

utilizes Weighted$-$Average for their inventory costing method. Record the two

journal entries for the sale and cost of sale $($for $100$ units sold for $$20$ per pair$).$

Calculate the Gross Profit under each costing method utilized in journal entries $4-$

a through $4-c.$

Cost of Good Sold