Chapters Review Packet
tableDateActivities,Units Acquired at Cost,Units Sold at RetailMar,Beginning inventory,units,@ $ per unit,,,Mar,Purchase,units, $ per unit,,,Mar,Sales,,,,units,@ $ per unitMar,Purchase,units,@ $ per unit,,,Mar,Purchase,units,a $ per unit,,,Mar,Sales,,,,units,@ $ per unitTotals,units,,units,
Using the weighted average method, find the value of ending inventory.
Using the LIFO method, what is the COGS for the March accounting period.
Using FIFO, record journal entries documenting the purchases and sales from March. Assume all purchases and sales are made on account.
Using FIFO, what is the Gross Profit for the month of March?
Using FIFO, what is the Gross Margin for the month of March?
At every step, round to the nearest cent
