Question: Date Description Quantity Unit Cost or Selling Price June 1 Beginning inventory 40 $42 June 4 Purchase 138 47 June 10 Sale 111 67 June
| Date | Description | Quantity | Unit Cost or Selling Price | |||||
| June | 1 | Beginning inventory | 40 | $42 | ||||
| June | 4 | Purchase | 138 | 47 | ||||
| June | 10 | Sale | 111 | 67 | ||||
| June | 11 | Sale return | 13 | 67 | ||||
| June | 18 | Purchase | 56 | 48 | ||||
| June | 18 | Purchase return | 10 | 48 | ||||
| June | 25 | Sale | 65 | 72 | ||||
| June | 28 | Purchase | 25 | 52 | ||||
Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost.
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