Question
The following data is available for one of the products sold by Wild Optics Company, which uses the periodic inventory system: Dec. 1 On hand,
The following data is available for one of the products sold by Wild Optics Company, which uses the periodic inventory system: Dec. 1 On hand, 10 units at $8.00 each $80 5 Purchased 30 units at $7.80 each 234 18 Purchased 40 units at $8.15 each 326 24 Purchased 20 units at $8.25 each 165 Available for sale during December100 units $805 At the end of December, Wild Optics had 25 units on hand. The 75 units sold created revenue of $13 each. Determine the amounts for the December 31 ending inventory, the cost of goods sold for December, and the gross margin for December for each of the inventory costing methods. Round your answers to two decimal places.
what's the ending inventory, the cost of goods sold and the gross profit of weighted average, FIFO, and LIFO?
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