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Jerry's Inventory Costing Methods Date T-Sep 9-Sep 16-Sep 21-Sep 28 Sep Item Beginning Inventory Purchase Purchase Purchase Purchase Guantity 42 50 58 62 65 cost for Unit Total $15.00 $630.00 $ 1600 $800.00 $18.00 $1044.00 $19.00 $ 1,178.00 $21.00 $1,365.00 sold 255 Units @ $a teach Sales FIFO Date Item Quantity Cost Per Unit Total Income Statement sales cost of Goods sold Gross Profit Gross Profit % =) operating Expenses $100000 Net Income LTEO Item Quantity Cost Per Unit Total Ending Inventory Income Statement Sales Cost of Goods sold - Gross Profit Operating Expenses $1000.00 Net Income Gross Profit & -> AVERAGE COST Average Cost Per Unit --> Cost of Goods Sold-> Ending Inventory ---- Income Statement sales Cost of Goods Sold Gross Profit Gross Profit % -> Operating Expenses $1,000.00 Net Income