Question. Problem 6-05A a1-a3,b (Video) You are provided with the following information for Swifty Inc. for the

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Problem 6-05A a1-a3,b (Video) You are provided with the following information for Swifty Inc. for the month ended June 30, 2020. Swifty uses the periodic method for inventory. Date June 1 June 4 June 10 June 11 June 18 Purchase June 18 Purchase return June 25 Sale June 28 Purchase Description Beginning inventory Purchase Sale Sale return SHOW SOLUTION SHOW ANSWER LINK TO TEXT The ending inventory Gross profit The cost of goods sold Your answer is correct. Calculate cost per unit. (Round answer to 2 decimal places, e.g. 5.25.) Weighted-average cost per unit ✔ LIFO 3810 Quantity Your answer is partially correct. Try again. Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round average-cost method answers to 2 decimal places, e.g. 1,250.25 and other answers to 0 decimal places, e.g. 1,250.) 7407 4150 39 137 108 16. 54 9 67 27 45.23 FIFO 4257 Unit Cost or Selling Price 6960 4597 $40 45 71 71 47 47 75 51 X= AVERAGE-COST 4033.50 7183.50 4373.5 Problem 6-05A a1-a3,b (Video) You are provided with the following information for Swifty Inc. for the month ended June 30, 2020. Swifty uses the periodic method for inventory. Date June 1 June 4 June 10 June 11 June 18 Purchase June 18 Purchase return June 25 Sale June 28 Purchase Description Beginning inventory Purchase Sale Sale return SHOW SOLUTION SHOW ANSWER LINK TO TEXT The ending inventory Gross profit The cost of goods sold Your answer is correct. Calculate cost per unit. (Round answer to 2 decimal places, e.g. 5.25.) Weighted-average cost per unit ✔ LIFO 3810 Quantity Your answer is partially correct. Try again. Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round average-cost method answers to 2 decimal places, e.g. 1,250.25 and other answers to 0 decimal places, e.g. 1,250.) 7407 4150 39 137 108 16. 54 9 67 27 45.23 FIFO 4257 Unit Cost or Selling Price 6960 4597 $40 45 71 71 47 47 75 51 X= AVERAGE-COST 4033.50 7183.50 4373.5

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