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Units Unit Cost Selling Price July 1 Beginning Inventory July 13 Purchase July 25 Sold 47 235 $10 12 (100) $16 July 31 Ending Inventory
Units Unit Cost Selling Price July 1 Beginning Inventory July 13 Purchase July 25 Sold 47 235 $10 12 (100) $16 July 31 Ending Inventory 182 Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under (a) FIFO, (b) LIFO, and (c) weighted average cost. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.) (a)FIFO FIFO (Periodic) Cost per Total Unit Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Total Cost of Goods Sold 0 Ending Inventory FIFO (Periodic) Sales Cost of Goods Sold Gross Profit (b)LIFO LIFO (Periodic) Cost per Total Unit Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Total Cost of Goods Sold Ending Inventory LIFO (Periodic) Sales Cost of Goods Sold Gross Profit c)Weighted Average Cost Weig Cost per Total Unit Beginning Inventory Purchases Goods Available for Sale Cost of Goods Sold Ending Inventory 0 eighted Average (Periodic) Sales Cost of Goods Sold Gross Profit
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