Question

Required information [The following information applies to the questions displayed below.] The following are the transactions for the month of July. Unit Selling Price Units Beginning July 1 50 Inventory July 13 Purchase 250 July 25 Sold (100) July 31 Ending Inventory 200 Unit Cost $10 13 $15 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.) LIFO (Periodic) Cost Units Total Unit Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Total Cost of Goods Sold Ending Inventory LIFO (Periodic). Sales Cost of Goods Sold Gross Profit

Answer 1

Pashiculars Cast Pes unit Total Dale 1uly1 Beginnin invert Purcha ses July13 Goods availble for Sale 30D astE Total Cos $1300 2u so CValuea C, ISo x13 so tapusny buipus CalculahionO oss Paofit under LIFo 1500 $ Sales less: Cost or goads PIos under LIFO l0o 13

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