Question: Date Units Amount Per Unit January 2 13 $20.00 January 7th 17 $18.00 January 12 22 $16.00 1) Assume the company is using the FIFO

Date Units Amount Per Unit January 2 13 $20.00 January 7th 17 $18.00 January 12 22 $16.00 1) Assume the company is using the FIFO perpetual method of inventory and we had a sale on January 9th. We sold 15 units at $30 dollars a unit. Please make the journal entry for the sale and how much gross profit did this sale have. 2) Assume the company is using the FIFO periodic method of inventory and on January 15th we had 14 units on hand. Please make the journal entry to record sales and how much gross profit did we have assuming we sold all units at $30. 3) Assume the company is using the LIFO periodic method of inventory and on January 15th we had 14 units on hand. Please make the journal entry to record sales and how much gross profit did we have assuming we sold all units at $30. 4) Assume the company is using the LIFO perpetual method of inventory and we had a sale on January 9". We sold 15 units at $30 dollars a unit. Please make the journal entry for the sale and how much gross profit did this sale have

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