Review the Tableau visualization, and then answer the questions that follow.

Sort Monthly Purchases By:

First In

Last In

Monthly Purchases

Actual Units Sold and On Hand

View on Tableau Public

Daily Sales Revenue Using the FIFO assumption, calculate cost of goods sold and the cost of ending inventory. $($Hint: This calculation is made

easier by using the Running Sum columns in Monthly Purchases$)$

Note: Round your answers to the nearest whole dollar.

Cost of goods sold

Ending inventory What amount would be reported for sales revenue and gross profit for the year under FIFO?

Note: Round your answers to the nearest whole dollar. Complete this question by entering your answers in the tabs below.

Using the LIFO assumption, calculate cost of goods sold and the cost of ending inventory. $($Hint: this calculation is made easier

by re$-$sorting monthly purchases and using the Running Sum columns$)$

Note: Round your answers to the nearest whole dollar.

$1$Complete this question by entering your answers in the tabs below.

Using the weighted$-$average cost assumption, calculate cost of goods sold and the cost of ending inventory.

Note: Round your answers to the nearest whole dollar.

The answer is not: "Expense of Products Sold Using FIFO Assumption is $$747,375$

Expense of Remaining Inventory Using FIFO Assumption is $$123,584"$

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