E4A. In chronological order, the inventory, purchases, and sales of a single product for a recent month are as follows. Units Amount per Unit 1 Beginning inventory June 150 $30 4 Purchase 400 33 12 Purchase 800 36 16 Sale 1,300 60 24 Purchase 300 39 1. Using the periodic inventory system, compute the cost of ending inventory, cost of goods sold, and gross margin. Use the average-cost, FIFO, and LIFO inventory costing methods. (Round unit costs to cents and totals to dollars.)

E4A. In chronological order, the inventory, purchases, and sales of a single product for a recent month are as follows. Units Amount per Unit 1 Beginning inventory June 150 $30 4 Purchase 400 33 12 Purchase 800 36 16 Sale 1,300 60 24 Purchase 300 39 1. Using the periodic inventory system, compute the cost of ending inventory, cost of goods sold, and gross margin. Use the average-cost, FIFO, and LIFO inventory costing methods. (Round unit costs to cents and totals to dollars.)

Name: Periodic Inventory System and Inventory Costing MethodsE4A. In chrono
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Description: Periodic Inventory System and Inventory Costing MethodsE4A. In chronological order, the inventory, purchases, and sales of a single product for arecent month are as follows.UnitsAmount per UnitJune1 Beginning inventory150$304Purchase4003312Purchase8

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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