Please complete the attached Spreadsheet and determine:

i) Ending Inventory

ii) Gross Profit Margin

For both FIFO and MWA inventory costing methods (under perpetual).

Rubric:

Assume the following data for ABC Company Sales for November 2023:
	Beginning inventory	10 units at $7 each
	Nov. 1 purchase	15 units at $9 each
	Sale	20 units at $15 each
	Nov. 2 purchase	20 units at $10 each
	Sale	12 units at $15 each
	Nov. 3 purchase	12 units at $11 each
	Sale	10 units at $16 each
On November 30, a physical count reveals 15 units on hand.
2) Refer to Table 1. Calculate ending inventory for ABC Company Sales assuming the perpetual moving-weighted-average-cost method is being used.
3) Refer to Table 1. Calculate gross margin for ABC Company Sales assuming the perpetual moving-weighted-average-cost method is being used.
4) Refer to Table 1. Calculate ending inventory for ABC Company Sales assuming the perpetual FIFO cost method is being used.
5) Refer to Table 1. Calculate gross margin for ABC Company Sales assuming the perpetual FIFO cost method is being used.

Date	Received			Sold			Balance
	Quantity	Cost	Amount	Quantity	Cost	Amount	Quantity	Cost	Amount

Sales
Cost of Goods Sold:
Cost of Goods Available
Less Ending Inventory
Cost of Goods Sold
Gross Margin

Date	Received			Sold			Balance
	Quantity	Cost	Amount	Quantity	Cost	Amount	Quantity	Cost	Amount
Sales
Cost of Goods Sold:
Cost of Goods Available
Less Ending Inventory
Cost of Goods Sold
Gross Margin

Date	Received			Sold			Balance
	Quantity	Cost	Amount	Quantity	Cost	Amount	Quantity	Cost	Amount