Question: Please identify the parts of the exercise. will be using as a guide for study for exam. thanks in advance. 1. Exercise 1. FIFO, LIFO

Please identify the parts of the exercise. will be using as a guide for study for exam. thanks in advance.

Please identify the parts of the exercise. will be using as a

1. Exercise 1. FIFO, LIFO and weighted average Computers of the Future made several purchases and sales of $7,750 in the month of April. He had operating expenses of $1,800. A. Prepare three statements of income and expenses (income statement): one using the FIFO method, another LIFO and the other with the weighted average (weighted average). B. Calculate the cost of goods sold using the periodic inventory model. Date Detail Quantity Unit Cost april 1 Inicial Inventory 6 $72 6 Sale 8 Purchase 11 84 13 Sale 5 15 Sale 19 Purchase 20 109 21 Sale 8 22 Sale 2 27 Purchase 10 90 30 Sale 6

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