These are the inventory transactions for a start up business.

Date	Type	Units	Unit Cost
01/07/17	Purchase	100	50
15/07/17	Sale	40
31/07/17	Purchase	25	60
15/08/17	Sale	70

Do not use punctuation in numerical answers.

Calculate Cost of Goods Sold using periodic average cost: Answer

Calculate Closing inventory using periodic FIFO: Answer

B)

Given:

Please note this information is used for the next three questions.

Do not use punctuation or symbols in your answers.

Opening Inventory	44476
Net Purchases	144205
Net Sales Revenue	202699
Gross Profit Margin	26%

Calculate Gross Profit (rounded to the nearest dollar - then use the rounded amount in any further calculations)

Answer:

Calculate Cost of Goods Sold

Answer:

Calculate Closing Inventory

Answer: