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part 2 of this question says Gross Profit is $______ using the LIFO inventory costing method Requirement 3. Prepare a perpetual inventory record, using the

part 2 of this question says Gross Profit is $______ using the LIFO inventory costing method image text in transcribed

Requirement 3. Prepare a perpetual inventory record, using the weighted average inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. Begin by computing the cost of goods sold and cost of ending merchandise inventory using the weighted-average inventory costing method. Enter the transactions in chronological order, calculating new inventory on hand balances after each transaction. Once all of the transactions have been entered into the perpetual record, calculate the quantity and total cost of merchandise inventory purchased, sold, and on hand at the end of the period. (Round weighted average cost per unit to the nearest cent and all other amounts to the nearest dollar.) Purchases Inventory on Hand i Data Table - X Unit Total Cost of Goods Sold Unit Total Quantity Cost Cost Unit Total Date Quantity Cost Cost Cost Cost Quantity 90 May 1 85 5850 5 130 781 9880 May 5 Purchase 13 Sale 18 Purchase 13 130 crates @S 78 each 140 crates @ $ 100 each 170 crates @ $ 80 each 180 crates @ $ 112 each 18 20 Sale 28 Totals Print Done Enter any number in the edit fields and then click Check

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