Question: Practice Problem 1 Table 1 Assume the following data for ABC Company Sales for November 2023: Beginning inventory 10 units at $7 each Nov. 1
Practice Problem 1 Table 1 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. PLEASE JUST TRY TO GIVE THE ANSWER IN EXCEL.
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