You have the following information for Carla Vista Inc. for the month ended October 31, 2025. Carla Vista uses a periodic system forinventory.DateDescriptionUnitsUnit Cost or Selling PriceOct. 1Beginning inventory55$26Oct. 9Purchase13028Oct. 11Sale9545Oct. 17Purchase9529Oct. 22Sale5550Oct. 25Purchase6531Oct. 29Sale10550(a1)(a2)Calculate ending inventory, cost of goods sold, and gross profit under each of the following methods.1. LIFO.2. FIFO.3. Average-cost.(Round answers to 0 decimal places, e.g. 125.)AVERAGE-COST$LIFOFIFOEnding inventory$$Cost of goods sold$SA$$+AGross profit$$$+AeTextbook and MediaAttempts: 0 of 3 used Submit Answer

Periodic inventory system:There are different types of inventory systems one of which is the period…

You have the following information for Carla Vista Inc. for the month ended October 31, 2025. Carla Vista uses a periodic system for inventory. Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory Oct. 9 Purchase 130 Oct. 11 Sale Oct. 17 Purchase Oct. 22 Sale Oct. 25 Purchase ྴ ཀྵ ྴ ྴ ྴ $26 28 45 29 50 65 31 Oct. 29 Sale 105 50 (a1) (a2) Calculate ending inventory, cost of goods sold, and gross profit under each of the following methods. 1. LIFO. 2. FIFO. 3. Average-cost. (Round answers to 0 decimal places, e.g. 125.) LIFO Ending inventory $ $ FIFO AVERAGE-COST $ Cost of goods sold $ $ $ Gross profit $ $ $

You have the following information for Carla Vista Inc. for the month ended October 31, 2025. Carla Vista uses a periodic system for inventory. Date Description Units Unit Cost or Selling Price Oct. 1 Beginning inventory Oct. 9 Purchase 130 Oct. 11 Sale Oct. 17 Purchase Oct. 22 Sale Oct. 25 Purchase ྴ ཀྵ ྴ ྴ ྴ $26 28 45 29 50 65 31 Oct. 29 Sale 105 50 (a1) (a2) Calculate ending inventory, cost of goods sold, and gross profit under each of the following methods. 1. LIFO. 2. FIFO. 3. Average-cost. (Round answers to 0 decimal places, e.g. 125.) LIFO Ending inventory $ $ FIFO AVERAGE-COST $ Cost of goods sold $ $ $ Gross profit $ $ $

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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