Sheridan Trading Company uses a periodic inventory system and has a beginning inventory as of...
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Sheridan Trading Company uses a periodic inventory system and has a beginning inventory as of April 1 of 140 tents. This consists of 140 tents purchased in February at a cost of $225 each. During April, the company had the following purchases and sales of tents. Determine the April cost of goods sold and the cost of the April 30 ending inventory using FIFO, LIFO, and average-cost. (Round average-cost per unit and final answer to 0 decimal places.) alculate Sheridan Trading's gross profit and gross profit margin for the month of April under each method. (Round margin rate to 1 ecimal place, e.g. 15.6 and other answers to 0 decimal places, e.g. 5,125.)
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Sheridan Trading Company uses a periodic inventory system and has a beginning inventory as of April 1 of 140 tents. This consists of 140 tents purchased in February at a cost of $225 each. During April, the company had the following purchases and sales of tents. Determine the April cost of goods sold and the cost of the April 30 ending inventory using FIFO, LIFO, and average-cost. (Round average-cost per unit and final answer to 0 decimal places.) alculate Sheridan Trading's gross profit and gross profit margin for the month of April under each method. (Round margin rate to 1 ecimal place, e.g. 15.6 and other answers to 0 decimal places, e.g. 5,125.) 