Question
Problem 6-5A (Part Level Submission) You are provided with the following information for Najera Inc. for the month ended June 30, 2017. Najera uses the
Problem 6-5A (Part Level Submission) You are provided with the following information for Najera Inc. for the month ended June 30, 2017. Najera uses the periodic method for inventory. Date Description Quantity Unit Cost or Selling Price June 1 Beginning inventory 38 $38 June 4 Purchase 135 42 June 10 Sale 105 67 June 11 Sale return 12 67 June 18 Purchase 52 44 June 18 Purchase return 8 44 June 25 Sale 62 72 June 28 Purchase 25 48 Collapse question part (a1) Correct answer. Your answer is correct. Calculate cost per unit. (Round answer to 2 decimal places, e.g. 5.25.) Weighted-average cost per unit $Entry field with correct answer 42.35 SHOW SOLUTION SHOW ANSWER LINK TO TEXT Attempts: 2 of 3 used Collapse question part (a2) Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round average-cost method answers to 2 decimal places, e.g. 1,250.25 and other answers to 0 decimal places, e.g. 1,250. Use weighted-average unit cost rounded to 2 decimal places for computations.) LIFO FIFO AVERAGE-COST The ending inventory $ $ $ The cost of goods sold $ $ $ Gross profit $ $ $
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