inventory coating methods

1 Inventory Costing Methods 2 Date Item 1-May Beginning Inventory 8-May Purchase 15-May Purchase 22-May Purchase 29-May Purchase Quantity 30 28 42 10 50 Cost Per Unit Total $17.00 $510.00 $18.00 $504.00 $19.00 $798.00 $22.00 $220.00 $26.00 $1,300.00 Sold 135 Units @ $37 each Sales 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 FIFO Date Item Quantity Cost Per Unit Total Ending Inventory Actor Sen 32 33 34 35 36 37 38 39 40 41 42 Sale Ce Sole Grow Operating pense Net Income Gross Profit % SANOM + 43 LIFO Date Item 44 45 46 47 Quantity Cost Per Unit Total 48 49 50 51 52 53 54 55 Ending Inventory Income Statement 58 59 60 61 62 63 64 65 66 67 68 69 70 71 Sales Cost of Goods Sold Gross Profit Operating Expenses Net Income $1,400.00 Gross Profit %===> AVERAGE COST 72 73 74 75 Average Cost Per Unit=1 Cost of Goods Sold Ending Inventory==== 76 Income Statement 77 78 79 80 81 82 83 84 85 Sales Cost of Goods Sold Gross Profit Operating Expenses Net Income $1,400.00 Gross Profit %=-=>