2 Part 2 Of 3 1 Points Required Information The Following Information Applies To The Questions Displayed Below The Fo 1 (22.36 KiB) Viewed 51 times
2 Part 2 Of 3 1 Points Required Information The Following Information Applies To The Questions Displayed Below The Fo 2 (31.74 KiB) Viewed 51 times
2 ! Part 2 of 3 1 points Required information The following information applies to the questions displayed below) The following are the transactions for the month of July. Units Unit Cost Unit Selling Price July 1 Beginning Inventory 40 July 13 Purchase July 25 Sold (100) $14 July 31 Ending Inventory $10 11 200 140 Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under LIFO periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole doll amount.)
2 Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under LIFO. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.) Part 2 of 2 Answer is not complete. LIFO Periodic) points Units Cont per Total Unit $ 10.00 $ 400 40 $ 11.00 0 2.600 Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Units from July 13 Purchase Units from Beginning Inventory 3 Total Cost of Goods Sold Ending Inventory 100 $ 11.00 140 $ 0.00 ® 1.100 $ 1.500 LIFO/Periodic Sales Cost of Goods Sold Gross Profit $ 1.400 1,100 $ 400
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