answer and explain #7

Methods. Jim Bob's uses the Periodic method of inventory. Show any calcula using the First-in First-out (FIFO), Last-in, First-out (LIFO) and Weighted Avera 7. Based on the following information, calculate the inventory turnover and number of days in inventory for Abe's Ale. Place your answers below. Inventory, $85,000; Purchases, $345,000. (Hint: all information is not necessary Sales $600,000; Cost of Goods Sold, $350,000; Beginning Inventory. $90,000, Ending on the next page and place your answers in the grid below. Round your final ar sused on the following in , to the nearest dollar Cost per Unit Total Cost Units $ 11.00 11.20 11.30 January 1- Beg lav Purchase January 5 chase - January 11 Prchase January 19 1,200 2,000 2,100 2,800 1,900 1,000 $ 13,200 22,400 23,730 31,920 21,850 11,600 11.40 11.50 Purchase - January 26 Purchase - January 30 11.60 9,400 units we sold during the month. Answers : SHOW ALL ANSWERS IN DOLLARS - NOT UNITS!!!!! Weighted Average FIFO LIFO Goods Available Ending Inventory Cost of Goods Sold