Safari File Edit View History Bookmarks Window Help ACC250: Financial Accounting, FA18 TR 1100A Homework: ACC250 Topic 5 Assignment 2 of 3 (2 complete) Score: 0.64 of 1 pt & P6-34B (similar to) Decorative Steel began August with 50 units of iron inventory that cost $35 each. During August, the company completed the foll (Cick the icon to view the transactions.) Read the requirements 90 $ 54 $ 4,860 95 $ 53 $ 5,035 10 S 53 S 530 25 $56$ 1,400 25 21 85 $53$ 4,505 15 S 58 S 870 S 5,730 30 $ 6,080 S 1,400 Totals Requirement 4. Determine the company's cost of goods sold for August using Fl The cost of goods sold amount for August using FIFO inventory costing is 6,070 The cost of goods sold amount for August using LIFO inventory costing is $ The cost of goods sold amount for August using weighted-average inventory costing is $6 Requirement 5. Compute gross profit for August using FIFO, LIFO, and weighted-average inventory costing methods. 105 130 FO, LFO, and weighted-average inventory co 6.165 6,080 Sales Revenue - Cost of Goods Sold Gross profit FIFO LIFO Weighted-average 6070 6165 6080 Enter any number in the edit fields and then click Check Answer. remaining Clear All