Question

For planet began May with with merchandise inventory of 65 crates of of vitamins that cost a total of of $3,835. During the month, fit planet purchased and sold merchandise on account as follows:

ms 50f 6 (3 complete) ▼ uring the month, Fit Planet purchased and sold merchandise on account as follows: determine the company's cost of goods sold, ending merchandise inventory, and gross profit. on ha Xhe olde Requirements ota Prepare a perpetual inventory record, using the FIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. Prepare a perpetual inventory record, using the LIFO inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. Prepare a perpetual inventory record, using the weighted-average inventory costing method, and determine the company's cost of goods sold, ending merchandise inventory, and gross profit. (Round weighted average cost per unit to the nearest cent and all other amounts to the nearest dollar.) If the business wanted to pay the least amount of income taxes possible, which method would it choose? 1. 2. 3. 4. Print Done Clear All

Answer 1

CaSt Cast luounits 4ss 扎1.700 13 bounils 3300 16ons 6o 121 boUnits 事SS 3300 1 7300/ 33c unit s CalculaionS. 4000/ 80 units cales Sold x Sales Psice Pex sate lat sales evenue. 8 300 ood s So ld(183o)

Re9ement 2. merchandise Inventos y is. 2500 and gǒassp is Puscha ses Cost o st Cost Cost Co3! Cost 50 4000 an 1 2onis so 700 Calclat A in Relrene t) Total Sales evenue CostsSo14 (18%o) 880 0 s1S900