Question
You are provided with the following information for Bramble Inc. for the month ended June 30, 2020. Bramble uses the periodic method for inventory. Unit
You are provided with the following information for Bramble Inc. for the month ended June 30, 2020. Bramble uses the periodic method for inventory. Unit Cost or Date Description Quantity Selling Price June 1 Beginning inventory 44 $42 June 4 Purchase 138 46 June 10 Sale 107 67 June 11 Sale return 12 67 June 18 Purchase June 18 Purchase return June 25 Sale June 28 Purchase 123 56 47 10 47 67 73 33 51 - Your answer is partially correct. Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average- cost. (Round average-cost method answers to 2 decimal places, e.g. 1,250.25 and other answers to O decimal places, e.g. 1,250.) +A +A The ending inventory The cost of goods sold $ Gross profit +A LIFO 4543 7498 $ 3758 +A +A +A FIFO AVERAGE-COST 4765 $ 7276 $ 3980 $ eTextbook and Media Save for Later Attempts: 1 of 3 used Submit
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