Question: PLEASE HELP WITH THE 3 WRONG ANSWERS... QUESTION: Periodic Inventory by Three Methods The beginning inventory of merchandise at Rhodes Co . and data on
PLEASE HELP WITH THE WRONG ANSWERS...
QUESTION: Periodic Inventory by Three Methods
The beginning inventory of merchandise at Rhodes Co and data on purchases and sales for a threemonth period
ending June are as follows:
Required:
Determine the inventory on June and the cost of merchandise sold for the threemonth period, using the firstin
firstout method and the periodic inventory system.
Merchandise inventory, June $
Cost of merchandise sold $
Determine the inventory on June and the cost of merchandise sold for the threemonth period, using the lastin
firstout method and the periodic inventory system.
Merchandise inventory, June
Cost of merchandise sold
Determine the inventory on June and the cost of merchandise sold for the threemonth period, using the
weighted average cost method and the periodic inventory system. Round the weighted average unit cost and final
answers to the nearest dollar.
Merchandise inventory, June
Cost of merchandise sold
Compare the gross profit and June inventories using the following column headings. Enter all amounts as positive
numbers.Please help me with the answers that are incorrect... Cost of merchandise sold and cost of merchandise sold weighted average and gross profit weighted average
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