Assume that Jump Coffee Shop completed the following periodic inventory transactions for a line of...
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Accounting
Assume that Jump Coffee Shop completed the following periodic inventory transactions for a line of merchandise inventory: (Click the icon to view the transactions.) Read the requirements FREE Requirements 1., 2., and 3. Compute ending merchandise inventory, cost of goods sold, and gross profit using the (1) FIFO inventory costing method, (2) LIFO inventory costing method, and (3) weighted-average inventory costing method. (Round weighted-average cost per unit to the nearest cent and all other amounts to the nearest dollar.) Begin by determining ending merchandise inventory and cost of goods sold under each of the three methods. Requirement 1. FIFO More Info 322 Beginning merchandise inventory Plus: Jun. 1 Jun. 12 Jun. 20 Beginning merchandise inventory Purchase -138 Less: Cost of goods sold Sale 17 units @ $15 each 5 units @ $19 each 14 units @ $37 each 11 units $23 each 13 units @ $37 each AS Jun. 24 Purchase Jun. 29 Sale Print Done
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