1. Find Cost of Goods Sold and Ending Inventory using the Weighted Average - Periodic

2. Find Cost of Goods Sold and Ending Inventory using the FIFO method

3. Find Cost of Goods Sold and Ending Inventory using the LIFO - Perpetual

4. Given the following information; prepare the first part of the Multi-Step Income Statement (HINT: through Gross Profit)

Selling Expense	10,000	Inventory	30,000
Furniture	50,000	Cash	60,000
Sales Returns and Allowances	3,000	Cost of Goods Sold	50,000
General Expense	20,000	Sales Revenue	94,000
Capital	30,000	Accounts Payable	15,000
Salary Payable	27,000	Sales Discount	1,000

Beg Inventory	50 units at $5 each
Purchase	10 units at $6 each
Sale	30 units at $15 each
Purchase	10 units at $7 each
Sale	25 unites at $15 each

Answer rating: 100% (QA)

The detailed answer for the above question is provided below To solve this problem well address each question step by step 1 Cost of Goods Sold and En... View the full answer