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Time: 12 Minutes Anderson Company uses the periodic inventory method and recorded the following purchases and sale of inventory during the month of September: Sales
Time: 12 Minutes Anderson Company uses the periodic inventory method and recorded the following purchases and sale of inventory during the month of September: Sales Purchases Date Units Unit Cost Units Unit Price Sept 1 200 $1.00 Sept 10 250 $2.00 Sept 15 300 $3.00 Sept 17 650 $5.00 Sept 20 325 $4.00 Sept 26 300 $6.00 Sept 28 350 $5.00 Instructions: Under the periodic inventory system, complete the following table. Round all answers to the nearest dollar. Use a dollar sign and comma in your answers. For example your answer should be written in the following formats: $5,400, or $540. Instructions: Under the periodic inventory system, complete the following table. Round all answers to the nearest dollar. Use a dollar sign and comma in your answers. For example your answer should be written in the following formats: $5,400, or $540. Gross Profit Cost of Ending Inventory Cost of Goods Sold FIFO Average Cost LIFO
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