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Please show all work and explanations for both questions. Given the following data, calculate cost of goods sold and the cost of ending inventory. 3
Please show all work and explanations for both questions.
Given the following data, calculate cost of goods sold and the cost of ending inventory. 3 separate methods, FIFO, LIFO and Weighted Average. You must show ALL calculations. Date Transaction 1/10 Bought 200 inventory units @ $15 1/20 Bought 200 inventory units @ $17 1/25 Sold 150 inventory units @ $30 1/28 Bought 100 inventory units @ $20 1/31 Sold 130 inventory units @ $30 2/4 Bought 90 inventory units @ $22
Given thefollowing and Using the Gross Profit Method, fill in the missing numbers. Show all calculations Full Year, Last Yr 1st 6 Mos, this yr Sales Revenue Cost of G.S.- 1,352,500 824,100 Beginning Inventory Purchases Cost of Inventory Available for Sale Less cost of ending inventory Cost of Goods Sold 172,411 872,400 1,044,811 244,801 725,000 Gross Margin Oper. Expenses Oper. Income/Loss 800,010 552,490 463,111 275,000 89,379
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