Question: need (a2) to be finished. will leave a like if correct thanks. You have the following information for Sheffield Corp. for the month ended October


You have the following information for Sheffield Corp. for the month ended October 31, 2022. Sheffield uses a periodic method for Inventory Date Description Beginning inventory Purchase Units Unit Cost or Selling Price $22 Oct. 1 70 Oct. 9 120 24 Oct. 11 Sale 90 35 Oct. 17 Purchase 90 25 Oct. 22 Sale 70 40 Oct. 25 Purchase 80 27 Oct. 29 Sale 100 40 (a1) Your answer has been saved. See score details after the due date. Calculate the weighted-average cost. (Round answer to 3 decimal places, e.g. 5.125.) Weighted average cost per unit 24528 (a2) Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO (2) FIFO (3) Average-cost. (Round answers to 0 decimal place, e.g. 125.) LIFO FIFO AVERAGE-COST The ending inventory $ $ $ The cost of goods sold $ $ $ Gross profit $ $ $
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
