Question: SHOW ALL WORK. If correct, I will give thumbs up! 8. The inventory records for Radford Company reflected the following: 1,400 units @ $4.40 1,500
SHOW ALL WORK. If correct, I will give thumbs up!
8. The inventory records for Radford Company reflected the following: 1,400 units @ $4.40 1,500 units @ $4.60 Beginning inventory on May 1 First purchase on May 7 second purchase on May 17 Third purchase on May 23 Sales on May 31 1,700 units @ $4.70 1,300 units @ $4.80 4,500 units @ $6.30 What is the amount of ending inventory assuming the FIFO cost flow method is used? What is the amount of cost of goods sold assuming the LIFO cost flow method is used? What is the amount of gross margin assuming the weighted average cost flow method is used? (Round your intermediate calculations to 2 decimal places.)
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