Use the following to answer questions 7 - 17 During September, the company sells 950 watches for $250.00 each. The company has the following inventory purchase transactions for September: Date 1-Sep 4-Sep 24-Sep Transaction Beginning Inventory Purchase Purchase # of Units 100 600 300 1,000 8. $ 66,900 Calculate ending inventory (FIFO) Unit cost $165.00 $167.00 $168.00 Total Cost $16,500 100,200 50,400 $167,100 7. $231,500 What were company's sales for the period? For questions 8-10 assume the company uses First-in, First-out (FIFO) inventory valuation.

Use the following to answer questions 7-17 During September, the company sells 950 watches for $250.00 each. The company has the following inventory purchase transactions for September: 7. $237,500 what were company's sales for the period? For questions 8 - 10 assume the company uses First-in, First-out (FIFO) inventory valuation. 8. $6(0,900 Calculate ending inventory (FIFO) 9. $133,800 Calculate cost of goods sold (FIFO) 10. $103,100 Calculate gross profit (FIFO) For questions 11 - 13 assume the company uses Last-in, First-out (LFO) inventory valuation. 11. $ Calculate ending inventory (LIFO) 12. $ Calculate cost of goods sold (LIFO) 13. $ Calculate gross profit (LIFO) For questions 14 - 16 assume the company uses Weighted Average cost inventory valuation. 14. $ Calculate ending inventory (WA) 15. $ Calculate cost of goods sold (WA) 16. $ Calculate gross profit (WA)