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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
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 30 $ 32 $ 960 Mar. 4 Purchase 35 31 1,085 Jun. 9 Purchase 40 30 1,200 Nov. 11 Purchase 40 28 1,120 145 $4,365 For the entire year, the company sells 111 units of inventory for $40 each. Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit FIFO Cost of Goods Sold Ending Inventory Cost of Goods Available for Sale Cost of # of units Cost per Goods unit Available for Sale $ 0 # of units Cost per unit Cost of Goods Sold # of units Cost Ending per unit Inventory $ 0 $ 0 Beginning Inventory Purchases Mar 04 Jun 09 Nov 11 Total 0 $ 0 0 $ $ ololo 0 0 0 0 $ 0 Sales revenue Gross profit Help 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue and gross profit. 1 LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory of units Cost per unit Cost of Goods Available for Sale $ 0 # of units Cost per unit Cost of Goods Sold # of units Cost Ending per unit Inventory 39 0 Beginning Inventory Purchases: Mar 04 Jun 09 Nov 11 Total 0 0 0 $ 0 ces Sales revenue Gross profit 3. Using weighted-average cost, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. (Round "Average Cost per unit" to 2 decimal places and all other answers to the nearest whole number.) Ending Inventory Weighted Average Weighted Average Cost Cost of Goods Available for Sale Cost of Goods Sold Weighted Average Cost Average Cost of Goods Average # of units Cost of # of units Cost per Available for Cost per Sold unit Sale Goods Sold Unit # of units in Ending Inventory Average Cost per unit Ending Inventory 30 s 960 35 Beginning Inventory Purchases Mar 4 Jun Nov. 11 Total 40 1,085 1200 1,120 4 365 40 145 $ Sales revenue Paneen
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