Question
Yana Sporting Goods had the following beginning inventory of tennis racquets and purchase transactions during the month of November. Date Transactions Units Unit Cost Total
Yana Sporting Goods had the following beginning inventory of tennis racquets and purchase transactions during the month of November.
Date | Transactions | Units | Unit Cost | Total Cost |
November 1 | Beginning inventory | 8 | $160 | $1,280 |
November 11 | Purchase | 10 | 150 | 1,500 |
November 20 | Purchase | 10 | 140 | 1,400 |
November 29 | Purchase | 11 | 130 | 1,430 |
Totals | 39 |
| $5,610 |
Yana sold racquets as follows:
November 4: 5 racquets @ $225 each
November 13: 8 racquets @ $240 each
November 26: 11 racquets @ $250 each
Required:
- Complete the table below for the month of November:
Cost Flow Method | Inventory at November 30 | Cost of goods sold for November | Sales revenue | Gross profit |
FIFO
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LIFO
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Weighted-average
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