4. Wildwood, an outdoors clothing store, reports the following information for June: $104,000 Income tax...
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4. Wildwood, an outdoors clothing store, reports the following information for June: $104,000 Income tax expense Sales $11,000 revenue Operating 22,000 Cost of goods sold 65,000 expenses $15,000 Nonoperating revenues Deferred 12,000 revenues What is Wildwood's gross profit for June? A $18,000 B. $39,000 C. $104,000. D. $17,000o 5. The following information relates to inventory for Shoeless Joe Inc. Date Quantity Price March 1 Beginning Inventory 20 $2 March 7 Purchase 15 March 11 Sale 25 March 12 Purchase 20 1. At what amount would Shoeless report ending inventory using FIFO cost flow assumptions? 2. What is the cost of goods sold using LIFO
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