Solve problem 6-3 and 6-4

00F BBA 110 Fundamentals of Financial Accounting BBA 1103 Fundamentals of Financial Accounting 1. FIFO a) Cotofinding invece Sales D Total Us Uti Price b) Caldes old 6) Grosso 1) Cost of goods available for sale: d) Grosse 1. Use the FIFO method. (W) Cost of ending inventory c) Con of gends sold 2. Average cost method al Costanding invest (iv) Gros profis (V) Grow profit rate bado de sold 2. Use the average-Cast method (Cost of ending inventory CLICs of poods sold c) Gross profit dness profitrate Gross profit Gro profit rate Unit cost or selling price The following information is provided for Deore De Company Dcore De uses the periodic imestory Pro 63 method of accoming for listak imentos Units Date Description 100 October Beginning inventory S8 100 2. Purchase 9 Sales 200 20 29 Prince 200 10 100 30 Purchase returns 10 80 31 Sales 20 Description Quantity 11 Problem 6-4 Srimongkol Paint is a wholesaler of enamel paint operating in Bangkok. Seimongkol Paint wes the perpetual inventory method. You are provided with the following information for the months of January 20XX Date Unit cost or selling (Units) price January Beginning inventory 150 520 Janciary2 Purchase 100 25 January 6 Sales 180 40 January 10 Purchase 190 28 January 11 Purchase returns 10 28 Sales 140 40 January 30 Instruction Calculate (1) Cost of soods available for sale in Cost of Ending inventory, cin Cost of goods sold (iv) Gross profit () Gross profit rate under each of the following methods (1) FIFO C) Average-cost Instructions 1. Prepare the inventory stock card by using the FIFO method 2. Compute the a) Cost of Ending Inventory. b) Cost of Goods Solde) Gross profit d) Gross profitne Inventory Stock Card by Using FIFO method. Date Description Units Unit Cast CGAS Total units available for sale Units sold Ending inventory in anits 103 102 00 RRAH Fundamentals of Financial Accounting OBA 11031 Balance Cast of goods soll Units Total Units To Perchases Total Dale Date Lails 2 al Center ending laventory best of gooch sold ens profit Gross profit rate Problem 6-5 Fond Ine uses the perpetual inventory method. The following information is for the month of January 30XX Date Description Quantity Unit cost or Selling price Januar Beginning laventory 100 January 3 $14 Purchase January 8 Sale 150 17 January 10 Sale retur 110 28 January 15 Parchase 10 28 55 19 5 19 80 32 30 22 January 16 Purchase retum Januar 20 Sale January 35 Purchase Instruction: under FIFO method Calculate the cost of ending inventory (n) Cost of goods sold (ii) Gross profit (iv) Gross profit rate