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Sale Use the information listed below to answer the following question Jan. 1 Inventory 15 units $5 per unit 4 Purchase 15 units $7 per
Sale Use the information listed below to answer the following question Jan. 1 Inventory 15 units $5 per unit 4 Purchase 15 units $7 per unit 7 20 units $15 per unit Sale 5 units $18 per unit 15 Purchase 40 units $10 per unit 23 Purchase 20 units $12 per unit 26 Sale 40 units $20 per unit Inventory, Jan. 31 ??? 9 Required: Find the following: sales revenues, ending inventory, cost of goods sold, and the gross profit under each of the following assumptions: (1) average-cost method; (2) FIFO method
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