The answer for 10,11,12,13, Use the following to answer questions 7 – 17During September, KC Company sells 730 mountain bikesfor $1,000 each. The company has the following inventorypurchase transactions:DateTransaction# of Units Unit cost Total Cost1-Sep Beginning Inventory7-Sep19-Sep50$710$35,500Purchase425S715303,875Purchase275$723198,825750S538,2007. $period?What were company's sales for theFor questions 8 - 10 assume the company uses First-in,First-out (FIFO) inventory valuation.Calculate ending inventory (FIFO)Calculate cost of goods sold (FIFO)8. $9. $10. $Calculate gross profit (FIFO)For questions 11 - 13 assume the company uses Last-in,First-out (LIFO) inventory valuation.11. $Calculate ending inventory (LIFO)12. $Calculate cost of goods sold (LIFO)13. $Calculate gross profit (LIFO)For questions 14 - 16 assume the company uses WeightedAverage cost inventory valuation.

Using FIFO method, older units are sold first and using LIFO method newer units are sold first. Cost…

Use the following to answer questions 7– 17 During September, KC Company sells 730 mountain bikes for $1,000 each. The company has the following inventory purchase transactions: Date Transaction # of Units Unit cost Total Cost $710 S35,500 1-Sep Beginning Inventory 7-Sep 19-Sep 50 Purchase 425 S715 303,875 Purchase 275 $723 198,825 750 S538,200