decorative steel began october with 50 units of iron inventory that cost $ 35 each. during october, the company completed the following inventory transactions:

Project Description:

decorative steel began october with 50 units of iron inventory that cost $ 35 each. during october, the company completed the following inventory transactions:
oct. 3 sale …… 45 units….. unit sale price $85
oct 8 purchase… 90 units… unit cost $54
oct. 21 sale---- 80 units….. unit sale price…$88
oct.30 purchase… 15 units…. unit cost $58



requirements
1. prepare a perpetual inventory record for the merchandise inventory using the fifo inventory costing method.
2. prepare a perpetual inventory record for the merchandise inventory using the lifo inventory costing method.
3. prepare a perpetual inventory record for the merchandise inventory using average inventory costing method.
4. determine the company’s cost of goods sold for october using fifo, lifo, average inventory costing methods.
5. compute gross profit for october using fifo, lifo, and average inventory costing methods.
Skills Required:
Project Stats: Edited

Price Type: Fixed

Project Budget: $1 to $8
Completed
Total Proposals: 7
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