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Transactions for the month of July for Blossom's Bookstore were as follows: Purchases Sales July 1 (balance) 560@ $7.40 July 3 370@ $9.4 8
Transactions for the month of July for Blossom's Bookstore were as follows: Purchases Sales July 1 (balance) 560@ $7.40 July 3 370@ $9.4 8 1.210@ $7.50 12 910 @ $9.65 28 22 740@ $7.70 25 780 @ $9.90 30 270@ $7.85 Assuming that periodic inventory records are kept. (a) e Determine the ending inventory and cost of goods sold using LIFO method. (Round answers to 2 decimal places, eg. 52.75.) Ending inventory $ 5344 Cost of goods sold $ 15692.50 eTextbook and Media Using multiple attempts will impact your score. 30% score reduction after attempt 1 Attempts: 1 of 2 used (c) Determine the ending inventory and cost of goods sold using average cost method. (Round average cost per unit and final answers to 2 decimal places, eg. 52.75.) Ending inventory $ Cost of goods sold $
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