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Requirements 1., 2., and 3. Compute ending merchandise Inventory, cost of goods sold, and gross profit using the (1) FIFO inventory costing method. (2) LIFO inventory conting mer cost per unit to the nearest cent and all other amounts to the nearest dollar) Begin by determining ending merchandise Inventory and cost of goods sold under each of the three methods Requirement 1. Requirement 2 Requirement 3. More info FIFO LIFO Weighted Average Beginning merchandise inventory 368 368 368 Jun. 1 Beginning merchandise inventory Plus Net cost of Inventory purchased Jun. 12 Purchase Cost of goods available for sale Jun. 20 Salo Ending merchandise inventory Jun. 24 Purchase Cost of goods sold Jun. 29 Sale Now compute the gross profit under each inventory costing method. Requirement 1. Requirement 2. Requirement 3 FIFO LIFO ited Average Print DC Sales Revenue Cost of Goods Sold Gross Profit Less pods sold and gross profit using the (1) FIFO inventory costing method, (2) LIFO inventory costing method, and (3) weighted average inventory costing method (Round weighted average or each of the three methods More info - X ment 2 FO 368 Requirement 3. Weighted Average 368 Jun 1 Beginning merchandise inventory Jun. 12 Purchase Jun. 20 Sale Jun, 24 Purchase Jun, 29 Sale 16 units 523 each Sunits 525 each 14 units 533 sach 19 units @ 27 each 20 unit @ 533 each tement 3. od Average Print Done Anthem Ochowa nements 1.2. und 3. Cantong the one who curvoyagested or wand Het WO More info -X INO JP J 2 Pac C LIFO Pret Done CG Requirements 1., 2., and 3. Compute ending merchandise inventory, cost of goods sold, and gross profit using the (1) FIFO inventory costing method. (2) UFO Inventory costing meth cost per unit to the nearest cent and all other amounts to the nearest dollar) Begin by determining ending merchandise inventory and cost of goods sold under each of the three methods Requirement 1. Requirement 2 Requirement 3 More info FIFO LIFO Weighted Average Beginning merchandise inventory 368 368 368 Jun, 1 Plus Net cost of inventory purchased Beginning merchandise inventory Jun. 12 Purchase Cost of goods available for sale Jun. 20 Sale Less Ending merchandise inventory Jun, 24 Purchase Cost of goods sold Jun, 29 Sale Now compute the gross profit under each inventory costing method Requirement 1. Requirement 2 Requirement 3 FIFO LIFO Weighted Average Print Dor Sales Revenue Cost of Goods Sold Gross Profit old, and gross profit using the (1) FIFO Inventory costing method, (2) LIFO inventory costing method, and (3) weighted average Inventory costing method (Round weighted average ch of the three methods. 2. More info Requirement 3. Weighted Average 368 368 Jun. 1 Beginning merchandise inventory Jun. 12 Purchase Jun. 20 Sale Jun, 24 Purchase Jun. 29 Sale 16 units @ 523 each 5 units @ $25 euch 14 units @ 533 each 19 units @ $27 each 20 units @ 533 each nt 3. erage Print Done 12 y by me, and (3) Weighted average inventory costing method (Round weighted average - More info Jun. 1 Beginning merchandise inventory Jun. 12 Purchase Jun. 20 Sale Jun. 24 Purchase 16 units @ $23 each 5 units @ $25 each 14 units @ $33 each 19 units @ $27 each 20 units @ 533 each Jun. 29 Sale Print Done
