You are provided with the following information for Najera Co. for the month ended 30 June 2014. Najera uses the periodic method for inventory Quantity June 1 4 10 11 18 18 25 28 Beginning inventory Purchase Sale Sales return Purchase Purchase return Sale Purchase 40 135 110 15 55 10 65 30 Unit cost or selling price RM 40 44 70 70 46 46 75 50 Required: Calculate (i) ending inventory, (ii) cost of goods sold, (iii) gross profit and (iv)gross profit margin under each of the following methods. (1) LIFO (2) FIFO (3) Weighted average method

You are provided with the following information for Najera Co. for the month ended 30 June 2014. Najera uses the periodic method for inventory Quantity June 1 4 10 11 18 18 25 28 Beginning inventory Purchase Sale Sales return Purchase Purchase return Sale Purchase 40 135 110 15 55 10 65 30 Unit cost or selling price RM 40 44 70 70 46 46 75 50 Required: Calculate (i) ending inventory, (ii) cost of goods sold, (iii) gross profit and (iv)gross profit margin under each of the following methods. (1) LIFO (2) FIFO (3) Weighted average method

Name: You are provided with the following information for Najera Co. for th
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Description: You are provided with the following information for Najera Co. for the month ended30 June 2014. Najera uses the periodic method for inventoryQuantityJune 1 Beginning inventory4Purchase101118182528SaleSales returnPurchasePurchase returnSalePurchase40

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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