paulson sailing Company sells boats as a supplement to its boat storage operations data for its boat sales for August 2019 are given below the beginning inventory on August 1 was composed of the following items:

sales during the month were the 30 holiday and the 20 leaking sold at the retail value shown on August 1

required:

1. based on the above data what is the best method of valuing the ending inventory?

2&3. determine the value of Polson sailing companies cost of good sold in ending inventory of items that were brought over from the beginning inventory using this method assume that the companies retail values have not changed

analyze: what is the estimated gross profit on sales for August?

Paulson Sailing Company sells boats as a supplement to its boat storage operations. Data for its boat sales for August 2019 are given below. The beginning inventory on August 1 was composed of the following items: 28 Starfish 30 Perch 24 Sea King 30 Holiday 20 Lake King Cost Retail $40,000 $52,000 60,000 80,000 23,500 27,500 43,500 55,000 25,500 32.000 Sales during the month were the 30' Holiday and the 20 Lake King, sold at the retail values shown on August 1. Required: 1. Based on the above data, what is the best method of valuing the ending inventory? 283. Determine the value of Paulson Salling Company's cost of goods sold and ending inventory of items that were brought over from the beginning inventory using this method. Assume that the company's retail values had not changed. Analyze: What is the estimated gross profit on sales for August? Complete this question by entering your answers in the tabs below. Analyze: What is the estimated gross profit on sales for August? Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Analyze Based on the above data, what is the best method of valuing the ending inventory? The best method of valuing the ending inventory is Req 2 and 3 > Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Analyze Determine the value of Paulson Sailing Company's cost of goods sold and ending inv from the beginning inventory using this method. Assume that the company's retail va Date Item Cost of Goods Sold Ending Inventory Cost 31-Aug 28 ft. Starfish 30 ft. Perch 24 ft. Sea King 30 ft. Holiday 20 ft. Lake King Analyze: What is the estimated gross profit on sales for August? Complete this question by entering your answers in the tabs below. Req 1 Req 2 and 3 Analyze What is the estimated gross profit on sales for August? Gross profit