LIFO

$(1)$ Ending inventory

$(2)$ Cost of goods sold

Cost of goods available for sale

Less: Ending inventory

Cost of goods sold

$(3)$ Gross profit

Sales revenue

COGS

Gross profitLIFO

$(1)$ Ending inventory

$(2)$ Cost of goods sold

Cost of goods available for sale

Less: Ending inventory

Cost of goods sold

$(3)$ Gross profit

Sales revenue

COGS

Gross profit

You are provided with the following information for Pavey Inc. for the month ended

October $31,2023$ Pavey uses a periodic method for inventory.

Instructions

Calculate:

Ending inventory

Cost of goods sold

Gross profit,

$(1)$ LIFO

$(2)$ FIFO

$(3)$ Average$-$cost

You are provided with the following information for Pavey Inc. for the month ended

October $31,2023$ Pavey uses a periodic method for inventory.

Instructions

Calculate:

Ending inventory

Cost of goods sold

Gross profit,

$(1)$ LIFO

$(2)$ FIFO

$(3)$ Average$-$cost