please answer within the format by providing formula the detailed workingPlease provide answer in text (Without image)Please provide answer in text (Without image)Please provide answer in text (Without image) Required information[The following information applies to the questions displayed below.]The following are the transactions for the month of July.July 1July 13July 25July 31Beginning InventoryPurchaseRequired ASoldEnding InventoryComplete this question by entering your answers in the tabs below.Required BFIFO (Periodic)Beginning InventoryPurchasesRequired: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.Units59295(100)254July 13Goods Available for SaleCost of Goods SoldTotal Cost of Goods SoldEnding InventoryCalculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used.Cost perUnitUnits< Required AUnit Cost$ 1013$$$Total0Unit SellingPrice00$ 15Required B >

FIFO Method: Which is a method used to calculate the cost of goods sold and the cost of ending…

Required information [The following information applies to the questions displayed below.] The following are the transactions for the month of July. July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory FIFO (Periodic) Beginning Inventory Purchases Complete this question by entering your answers in the tabs below. Units 59 295 (100) 254 Required: . Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. . Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. July 13 Goods Available for Sale Cost of Goods Sold Total Cost of Goods Sold Ending Inventory Required A Required B Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. Cost per Unit Units < Required A $ GA $ Unit Cost $ 10 13 EA $ EA Total 0 Unit Selling Price 0 0 $ 15 Required B >

Required information [The following information applies to the questions displayed below.] The following are the transactions for the month of July. July 1 July 13 July 25 July 31 Beginning Inventory Purchase Sold Ending Inventory FIFO (Periodic) Beginning Inventory Purchases Complete this question by entering your answers in the tabs below. Units 59 295 (100) 254 Required: . Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. . Calculate sales, cost of goods sold, and gross profit, under FIFO. Assume a periodic inventory system is used. July 13 Goods Available for Sale Cost of Goods Sold Total Cost of Goods Sold Ending Inventory Required A Required B Calculate cost of goods available for sale and ending inventory under FIFO. Assume a periodic inventory system is used. Cost per Unit Units < Required A $ GA $ Unit Cost $ 10 13 EA $ EA Total 0 Unit Selling Price 0 0 $ 15 Required B >

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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