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The following are the transactions for the month of July. Units Unit Cost Unit Selling Price July 1 Beginning Inventory 53 $ 10 July 13
The following are the transactions for the month of July.
Units Unit Cost Unit Selling Price July 1 Beginning Inventory 53 $ 10 July 13 Purchase 265 13 July 25 Sold ( 100 ) $ 15
July 31 Ending Inventory 218
Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under (a) FIFO, (b) LIFO, and (c) weighted average cost. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.)
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