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Spiderman Company had the following events related to inventory and sales during January. Please Show your work: You should fill in the correct answers in
Spiderman Company had the following events related to inventory and sales during January. | |||||
Please Show your work: You should fill in the correct answers in the boxes below. | |||||
Date | Transaction | Units | $/Unit | ||
1 | Beg Inventory | 100 | 5 | ||
10 | Purchase | 300 | 7 | ||
12 | Sale | 200 | 20 (Selling Price) | ||
19 | Purchase | 300 | 9 | ||
31 | Sale | 200 | 20 (Selling Price) | ||
| |||||
Periodic Methods | FIFO | LIFO | Average Cost | ||
Sales | $ | $ | $ | ||
Cost of Goods Available for Sale | $ | $ | $ | ||
Ending Inventory | $ | $ | $ | ||
Cost of Goods Sold | $ | $ | $ | ||
Gross Profit | $ | $ | $ | ||
Which Units were included in the Ending Inventory for FIFO? (Periodic Method) | |||||
Which Units were included in the Ending Inventory for LIFO? (Periodic Method) | |||||
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