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Accounting
EIE Font AaBbcc AaBbcAaBbcc AaBbCd AaBbced AaB Emphasis Heading 1 1 Normal Strong Subtitle Share Paragraph Find c Replace Select Title Styles Dictate 7. (7 Marks) The inventory records for ABC Co. for the month of June are below: Edit Editing Vio Date Quantity Cost June 1 Beginning Balance Selling Price 150 June 6 $35 Purchase 100 June 12 Cash Sale $29 200 June 21 Purchase $60 400 $38 June 29 Sale on account 300 $60 Required: Calculate Ending inventory, Cost of Goods Sold and Gross Profit using the FIFO Method. I Enter your answers in the boxes below: Ending Inventory Cost of Goods Sold Gross Profit B) Record the journal entry for June 12 Date Account Debit Credit D Focus D 00 ENG TI O
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