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May 1- Opening Inventory 200units at $5.5 per unit May 6- Purchases 60...

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Accounting

May 1- Opening Inventory 200units at $5.5 per unit
May 6- Purchases 60 units at $ 6 per unit
May 10- Sales 170 units at $12 per unit
May 15- Purchases 125 units at $6.75 per unit
May 31- Sales 110 units at $15 per unit
Business expenses amounted to $455
Calculate the profit for the month if inventory is valued as per:
(1) First In First Out method
(2) Average Cost method

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