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Your company had the following chronological inventory transactions during 2020: Beginning Inventory 20 units cost = $20.00 per unit Purchased 80 units cost = $23.00
Your company had the following chronological inventory transactions during 2020: Beginning Inventory 20 units cost = $20.00 per unit Purchased 80 units cost = $23.00 per unit Sold 93 units selling price = $45.00 per unit Purchased 60 units cost = 523.60 per unit Sold 58 units selling price = $46.00 per unit Purchased 15 units cost = $24.00 per unit Ending Inventory 24 units In the following questions, please round all costs to TWO decimals. 1. Calculate the cost of Ending Inventory assuming your company was using perpetual LIFO. please show your work) 2. Calculate the cost of Goods Sold assuming your company was using perpetual Average. (please show your work) 3. Calculate the Gross Profit assuming your company was using perpetual FIFO. please show your work) 4. Calculate the Inventory Turnover (and please show your work including your answer to three decimals) assuming : a Perpetual LIFO 6. Perpetual Average c. Perpetual FIFO
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