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Problem 1 - Inventory Valuation (10 points total) Green Store uses a PERIODIC inventory system and had the following transact
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& Green store uses a periodic Inventory system Specific weighted dentification Avg cost FIFO L IFO 1010 9 97.5 1050 995 12/31(6) specific Identification: - cost of good sold: (sounits 8 $27) + (solinit $29. +(25 Units X $30) ($ 3550 ? Ending Inventor(9) Gross profit: L sales Less: COGIS Gooss profit Speafic s 87 SOU (3550) $ 5200 Aug 8750 3562.50 5187-50 FIFO 8750 (3510) 5

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