Part of
eted the following periodic inventory transactions for a line of merchandise inventory: dions.
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Jun. Beginning merchandise inventory
Jun. Purchase
Jun. Sale
Jun. Purchase
Jun. Sale
units @ $ each
units@$each
units@$ each
units@$ each
units@$ each
Assume that Java Coffee Shop completed the following periodic inventory transactions for a line of merchandise inventory:
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Read the requirements.
Requirements and Compute ending merchandise inventory, cost of goods sold, and gross profit using the FIFO inventory costing method, LIFO inventory costing method, and weightedaverage inventory costing method. Round weightedaverage 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.
tabletableRequirement FIFOtableRequirement LIFOBeginning merchandise inventory,$Plus:Net cost of inventory purchased,,Cost of goods available for sale,,Less:Ending merchandise inventory,,Cost of goods sold,$
