The inventory of Product B and data on purchases and sales for a two-months period follow. The company closes its books at the end of each month. It uses the periodic inventory system.

Apr	1 Beginning inventory	50 units @ $ 102
	10 Purchase	100 units @ $ 110
	17 Sale	90 units
	30 ending inventory	60 units
May	2 Purchase	100 units @ $108
	14 Purchase	50 units @ $112
	22 Purchase	60 units @ $117
	30 Sale	200 units
	31 Ending inventory	70 units

Requirement:

1. Calculate Cost of Goods Sold for two months using periodic inventory system.
2. Calculate the Gross Profit for each month and discuss the profitability.

Part b:

Use the data provided in part a of the question, but assume that the company uses the perpetual inventory system. Hint: Develop Inventory Subsidiary Ledgers, where required.

Required

Determine the cost of ending inventory and cost of goods sold for April and May using the average-cost method. Round unit costs to cents and totals to dollars.

the purchase price is given why not. when says 50 units @ $102 mean purchased 102 USD