View Policies Show Attempt History Current Attempt in Progress Bridgeport Ltd. uses the perpetual inventory system and reports the following inventory transactions for the month of June: Date June 1 Total Cost $5.720 12,000 Unit Cost/Price $4 5 12 12 Explanation Beginning inventory Purchases Sale Purchases Purchases Sales 15 Units 1.430 2,400 (2.540) 4,530 1.440 (5.720) 16 6 27,180 7 10,080 23 27 15 (a) Your answer is correct. (b) Calculate the gross profit for the month of June using (1) FIFO and (2) average cost. (Round average final answers to 2 decimal places, e.g. 1.25. Do not round intermediate calculations.) FIFO Average Cost Gross profits $ e Textbook and Media Save for Later Attempts: 0 of 3 used Submit Answer (c) The parts of this question must be completed in order. This part will be available when you complete the part above