During the year, a company has the following inventory transactions. Unit Date Transaction Number of Units...

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During the year, a company has the following inventory transactions. Unit Date Transaction Number of Units Cost Total Cost Jan. 1 Beginning inventory Apr. 7 Jul.16 $ 47 $ 2,585 6,615 10,660 6,095 55 Purchase 135 49 Purchase 205 52 Oct. 6 Purchase 115 53 510 $25,955 For the entire year, the company sells 441 units of inventory for $65 each. Exercise 6-4B Part 2 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Cost of Goods Sold Cost per Goods Available for Sale Cost per unit Ending per unit Inventory Cost # of units # of units # of units unit Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Total 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventor Cost of Cost of Goods Sold Cost per Goods Cost per unit # of units # of units # of units Cost unit Available for Sale per unit In Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Total Sales revenue Gross profit During the year, a company has the following inventory transactions. Unit Date Transaction Number of Units Cost Total Cost Jan. 1 Beginning inventory Apr. 7 Jul.16 $ 47 $ 2,585 6,615 10,660 6,095 55 Purchase 135 49 Purchase 205 52 Oct. 6 Purchase 115 53 510 $25,955 For the entire year, the company sells 441 units of inventory for $65 each. Exercise 6-4B Part 2 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventory Cost of Cost of Goods Sold Cost per Goods Available for Sale Cost per unit Ending per unit Inventory Cost # of units # of units # of units unit Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Total 2. Using LIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. LIFO Cost of Goods Available for Sale Cost of Goods Sold Ending Inventor Cost of Cost of Goods Sold Cost per Goods Cost per unit # of units # of units # of units Cost unit Available for Sale per unit In Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Total Sales revenue Gross profit

Answer rating: 100% (QA)

Answer Requirement 1 FIFO Cost of Goods available for sale Cost of Goods Sold Ending Inventory Units ... View the full answer