Question: please write it out, for some reason i cannot see the full picture when people do the problem in excel Check my work mode: This
Check my work mode: This shows what is correct or incorrect for the w Apr. 7 Purchase Jul.16 Purchase Oct. 6 Purchase 140 210 120 54 57 58 7.560 11,970 6,960 $29,610 530 For the entire year, the company sells 450 units of Inventory for $70 each Required: 1. Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profil Answer is not complete. FIFO Cost of Goods Sold Ending Inventory Cost Cost of Goods Available for Sale Cost of of Cost Goods units Available unit for Sale 60's 52 $ 3.120 Cost per # of units per Cost of Goods Sold of units per Ending Inventory 603 52 $ 3,120 60 $ 52 53.120 20 S 54 1080 Beginning Inventory Purchases Apr. 7 Jul. 16 Oct 6 Total 140 $ 54 210 $ 57 120 558 530 7.560 11,970 6,960 $ 29 610 120 54 2103 57 120 S 58 6,480 11,970 6.960 528 530 80 5 4.200 Answer is complete and correct. S Revenue Groso proti $31.500 $ 6530 - 5
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
