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Presented below is information related to Blowfish radios for the Whispering Company for the month of July. Date Transaction Units In Unit Cost Total Units
Presented below is information related to Blowfish radios for the Whispering Company for the month of July. Date Transaction Units In Unit Cost Total Units Sold Selling Price Total July 1 Balance $3.90 $ 702 5,760 180 6 Purchase 1,440 4.00 7 Sale 10 Sale 12 Purchase 15 Sale 18 Purchase 22 Sale 25 Purchase 30 Sale $7.00 3,780 3,942 540 540 7.30 720 4.30 3,096 360 7.40 2,664 540 4.40 2,376 720 7.40 5,328 900 4.38 3,942 360 2,700 $18,414 7.50 Totals 3,780 $15,876 2,520 Calculate average cost per unit. (Round answer to 2 decimal places, e.g. 2.76.) Weighted-average costs LINK TO TEXT Assuming that the periodic inventory method is used, compute the inventory cost at July 31 under each of the following cost flow assumptions. (Round answers to O decimal places, e.g. 6,578.) (1) FIFO (2) LIFO. (3) Weighted-average FIFO Ending Inventory at July 31 which of the methods used above ill yield the lowest figure for gross profit for the income statement? method will yield the lowest gross profit. LINK TO TEXT Which of the methods used above will yield the lowest figure for ending inventory for the balance sheet? method will yield the lowest ending inventory
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