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Strand Corp has the following information: Beginning Inventory- Purchased- 2,000 units @$20/unit- $40,000 5760 1,000 units @ $22/unit- Purchased- $22,000 1,500 units @ $23/unit-
Strand Corp has the following information: Beginning Inventory- Purchased- 2,000 units @$20/unit- $40,000 5760 1,000 units @ $22/unit- Purchased- $22,000 1,500 units @ $23/unit- $34,500 Purchased- 1250 1,700 units @$24/unite $40,800 Goods Available for Sale 372 2 100 6,200 units $137,300 Sold- 5,750 units for $50/each 2000 Ending Inventory 450-units 1000 1000 170 REQUIRED: for FIFO, LIFO and Weighted Average: 1) Calculate the value of Ending Inventory 2) Calculate and show the schedule for Cost of Goods Sold 3) Calculate and show the schedule for Gross Profit 4) Calculate and show the Gross Profit Percentage (carry out at least 1 decimal place) 17500knetx 24-3000
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