Green Forest Inc. had the following purchases and sales in October. Calculate the Cost of Goods...

 

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Green Forest Inc. had the following purchases and sales in October. Calculate the Cost of Goods Sold for the month, Ending inventory balance, and Gross Profit under FIFO, LIFO and Weighted Average. Date Oct 1 Beginning Balance 25 23 Oct 5 Purchase Oct 10 Purchase Oct 13 Sale Oct 20 Sale Oct 23 Purchase Oct 30 Sale Cost of Goods Sold $ 3180 Ending Inventory 6500 Gross Profit $ 3320 Units Cost Total Sales Price $575 45 29 $1,305 90 20 $1,800 135 LIFO Cost of Goods Sold S Ending Inventory Gross Profit 55 65 21 $1,365 40 Calculate the Cost of Goods Sold, Ending inventory, and Gross Profit for the month under FIFO, LIFO, and Weighted Average FIFO $50 $50 $50 Weighted Average Do not round the unit cost. Do round total costs to the nearest cent on each transaction. Cost of Goods Sold $ 14550 Ending Inventory 5085 Gross Profit Green Forest Inc. had the following purchases and sales in October. Calculate the Cost of Goods Sold for the month, Ending inventory balance, and Gross Profit under FIFO, LIFO and Weighted Average. Date Oct 1 Beginning Balance 25 23 Oct 5 Purchase Oct 10 Purchase Oct 13 Sale Oct 20 Sale Oct 23 Purchase Oct 30 Sale Cost of Goods Sold $ 3180 Ending Inventory 6500 Gross Profit $ 3320 Units Cost Total Sales Price $575 45 29 $1,305 90 20 $1,800 135 LIFO Cost of Goods Sold S Ending Inventory Gross Profit 55 65 21 $1,365 40 Calculate the Cost of Goods Sold, Ending inventory, and Gross Profit for the month under FIFO, LIFO, and Weighted Average FIFO $50 $50 $50 Weighted Average Do not round the unit cost. Do round total costs to the nearest cent on each transaction. Cost of Goods Sold $ 14550 Ending Inventory 5085 Gross Profit