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The following information relates to Skysong Ltd.'s inventory transactions during the month of August. All of the units sold were priced at $2,320 per unit.
The following information relates to Skysong Ltd.'s inventory transactions during the month of August. All of the units sold were priced at $2,320 per unit. (a) Skysong Ltd. uses the periodic inventory system. Calculate Skysong's cost of goods sold, gross margin, and ending inventory for the month of August using: i. FIFO ii. Weighted-average (Round final answers to 0 decimal places, e.g. 61,052.)
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