Question: Eck my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indic !


Eck my work mode : This shows what is correct or incorrect for the work you have completed so far. It does not indic ! Required information [The following information applies to the questions displayed below.) Glasgow Corporation has the following inventory transactions during the year. Date Transaction Jan. 1 Beginning inventory Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase Number of Units 47 127 197 107 478 Unit Cost $ 39 41 44 45 Total Cost $ 1,833 5,207 8,668 4,815 $20,523 For the entire year, the company sells 426 units of inventory for $57 each. Daanrad. requirea WOON 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit. Answer is complete but not entirely correct. Part of FIFO Cost of Goods Available for Coat of Goods Sold Ending Inventory of 10 points Cost per unit units Cost of Goods Available for Sale $ 0 of units Cost per unit Cost of Goods Sold of unita Cost per unit Ending Inventory Beginning Inventory Purchases 0$ 02:33:20 47 $0 5 0 47 $0 Apr. 7 127 $ 41 127 127$ 41 197$ 44 107$ 45 5,207 8.668 5.207 8.668 Jul 16 Oct 6 Total 4.515 197$ 44 55 $ 45 426 5.207 8.668 2,475 $ 18,183 197 $ 44 1073 $ 45 52 4815 $ 18,690 $ 2.340 Answer is complete but not entirely correct. Cost of Goods Sold Ending Inventory LIFO Cost of Goods Available for Salo Cost Cost of # of Goods units per unit Available for Sale # of units Cost per unit Cost of Goods Sold #of units Cost per unit Ending Inventory 107 S 0 $ 0 197 X $ 0 122 $ 0 Beginning Inventory Purchases: Apr 07 Jul 16 Oct 06 Total 127S 41 197$ 44 107 S 45 538 5,207 8,668 4,815 $ 18,690 122 $ 41 197$ 44 107$ 45 426 5,002 8,668 4,815 $ 18,485 127 X $ 41 197 X $ 44 107 % $ 45 52 5,207 8,668 4,815 2,038
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