You are provided with the following information for Guillaume Inc. for the month ended June 30, 2021. Guillaume uses the periodic method for inventory. Unit Cost or Date Description Beginning inventory Quantity Selling Price June 1 40 P40 June 4 Purchase 135 44 June 10 Sale 110 70 June 11 Sale return 15 70 June 18 Purchase 55 46 June 18 Purchase return 10 46 June 25 Sale 65 75 June 28 Purchase 30 50 REQUIRED: Calculate (i) ending inventory, (ii) cost of goods sold, and (iii) gross profit under FIFO and Weighted average-cost methods.

You are provided with the following information for Guillaume Inc. for the month ended June 30, 2021. Guillaume uses the periodic method for inventory. Unit Cost or Date Description Beginning inventory Quantity Selling Price June 1 40 P40 June 4 Purchase 135 44 June 10 Sale 110 70 June 11 Sale return 15 70 June 18 Purchase 55 46 June 18 Purchase return 10 46 June 25 Sale 65 75 June 28 Purchase 30 50 REQUIRED: Calculate (i) ending inventory, (ii) cost of goods sold, and (iii) gross profit under FIFO and Weighted average-cost methods.

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Description: You are provided with the following information for Guillaume Inc. for the month ended June 30, 2021.Guillaume uses the periodic method for inventory.Unit Cost orDateDescriptionBeginning inventoryQuantitySelling PriceJune 140P40June 4Purchase13544Ju

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 3PA: Trini Company had the following transactions for the month. Calculate the cost of goods sold dollar...

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