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[The following information applies to the questions displayed below.]

During the year, a company has the following inventory transactions.

Date		Transaction	Number of Units			Unit Cost			Total Cost
Jan.	1	Beginning inventory		15		$	17			$	255
Mar.	4	Purchase		20			16				320
Jun.	9	Purchase		25			15				375
Nov.	11	Purchase		25			13				325
				85						$	1,275

For the entire year, the company sells 65 units of inventory for $25 each.

2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit.

! Required information (The following information applies to the questions displayed below.) During the year, a company has the following inventory transactions. Number Unit Date Transaction of Units Cost Total Cost Jan. 1 Beginning inventory $ 17 $ 255 Mar. 4 Purchase 16 320 Jun. 9 Purchase 15 375 Nov.11 Purchase 13 325 $1,275 For the entire year, the company sells 65 units of inventory for $25 each. 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory # of units Cost per unit Cost of Goods Available for Sale Cost per # of units unit Cost of Goods Sold # of units Cost Ending per unit Inventory $ 0 Beginning Inventory Purchases: Mar 04 0 0 Jun 09 Nov 11 0 Total 0 $ 0 Sales revenue Gross profit