Question
The inventory records for Radford Co. reflected the following: Beginning inventory @ May 1 600 units @ $2.80 First purchase @ May 7 700 units
The inventory records for Radford Co. reflected the following:
Beginning inventory @ May 1 | 600 units @ $2.80 |
First purchase @ May 7 | 700 units @ $3.00 |
Second purchase @ May 17 | 900 units @ $3.10 |
Third purchase @ May 23 | 500 units @ $3.20 |
Sales @ May 31 | 2,100 units @ $4.70 |
rev: 06_12_2018_QC_CS-128971
If the company uses the weighted-average inventory cost flow method, what is the average cost per unit (rounded) for May?
What is the amount of cost of goods sold assuming the LIFO cost flow method?
What is the amount of ending inventory assuming the FIFO cost flow method?
What is the amount of gross margin assuming the weighted-average inventory cost flow method? (Round your intermediate calculations to two decimal places.)
What is the amount of gross margin assuming the FIFO cost flow method?
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