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fnu.blackboard.com Question 7 2 Point Three identical units of Item K113 are purchased during July, as shown below. Item K113 Units Cost July 9 Purchase 1 156 17 Purchase 1 178 26 Purchase 1 181 Assume that one unit is sold on July 31 for $268. Determine the gross profit for July using the first-in, first-out (FIFO) method. Add your answer Question 8 2 Points Beginning inventory, purchases, and sales for Item MMM8 are as follows: November 1 Inventory 108 16 9 Sale 88 16 Purchase 130 22 25 Sale 80 Assuming a perpetual inventory system and using the Last-in, first-out (FIFO) method, determine the Cost of Goods Sold in November. Add your answer Question 9 2 Points The units of an item available for sale during the year were as follows: Jan 1 Inventory 22 units at 125 April 15 Purchase 134 units at 116 September 9 Purchase 23 units at 123 There are 33 units of the item in the physical inventory at December 31. The periodic inventory system is used. Determine the inventory cost using the first-in, first-out (FIFO) Add your answer MacBook Air