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What amount would be reported for sales revenue and gross profit for the year under FIFO? Monthly Purchases Day of Date Units Unit Cost Total
What amount would be reported for sales revenue and gross profit for the year under FIFO?
Monthly Purchases Day of Date Units Unit Cost Total Cost Running Sum of Units January 1 4,000 $25.00 $100,000 4,000 January 31 2,800 $25.05 $70,140 6,800 February 28 3,100 $25.15 $77,965 9,900 March 31 3,000 $25.25 $75,750 12,900 April 30 2,800 $25.30 $70,840 15,700 May 31 4,200 $25.40 $106,680 19,900 June 30 4,340 $25.60 $111,104 24,240 July 31 3,720 $25.75 $95,790 27,960 August 31 3,300 $25.80 $85,140 31,250 September 30 3,000 $25.85 $77,550 34,260 October 31 3,100 $25.85 $80,135 37,360 November 30 4,400 $25.90 $113.960 41,760 December 31 3,000 $25.00 $78,000 44,760
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