Please do not give solution in image format thanku Required informationRequired:a. Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used.b. Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used.Complete this question by entering your answers in the tabs below.Required A Required BCalculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used.Cost perUnitFIFO (Periodic)Beginning InventoryPurchasesJuly 13Goods Available for SaleCost of Goods SoldTotal Cost of Goods SoldEnding InventoryRequired A Required BUnitsFIFO (Periodic)SalesCost of Goods SoldGross Profit< Required A$< Required A$$Total000Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used.Required B >Required B > Required informationM7-7 to M7-9 (Algo) Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of GoodsSold, and Gross Profit under Periodic FIFO, LIFO, and Weighted Average Cost [LO 7-3][The following information applies to the questions displayed below.]The following are the transactions for the month of July.July 1July 13July 25ly 31Beginning InventoryPurchaseSoldEnding InventoryUnits43215(100)158Unit Cost$ 1011Unit SellingPrice$ 14M7-7 (Algo) Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold,and Gross Profit under Periodic FIFO [LO 7-3]Required:a. Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used.b. Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used.

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Description: Please do not give solution in image format thanku Required informationRequired:a. Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used.b. Calculate sales, cost of goods sold, and gros

Under the periodic inventory system a physical count of inventory are performed in a specific time…

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Accounting

Required information Required: a. Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. b. Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. Complete this question by entering your answers in the tabs below. Required A Required B Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. FIFO (Periodic) Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Total Cost of Goods Sold Ending Inventory Units Cost per Unit $ $ $ Total 0 0 0

Required information Required: a. Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. b. Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. Complete this question by entering your answers in the tabs below. Required A Required B Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. FIFO (Periodic) Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Total Cost of Goods Sold Ending Inventory Units Cost per Unit $ $ $ Total 0 0 0

Financial And Managerial Accounting

15th Edition

ISBN:9781337902663

Author:WARREN, Carl S.

Publisher:WARREN, Carl S.

Chapter6: Inventories

Section: Chapter Questions

Problem 2PB: LIFO perpetual inventory The beginning inventory for Dunne Co. and data on purchases and sales for a...

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