The inventory data for Garden Corporation's patio furniture Bermuda set is presented below. Assume that Garden uses periodic inventory tracking.
Beginning Inventory purchased in
Purchases:
Purchase on
Purchase on
Sales:
Sale on
Sale on
units @ $ per unit
units @ $ per unit
units @ $ per unit
units @ $ per unit
units @ $ per unit
When Garden examines the actual units in ending inventory, they see that of the units are from beginning inventory, units are from the purchase, and units are from the purchase.
What is Inventory on the Balance Sheet if Garden uses FIFO?
a $
b $
C
$
d
$
What is Cost of Goods Sold on the Income Statement if Garden uses LIFO?
a $
b
$
$
d
$
What is Inventory on the Balance Sheet if Garden uses Specific Identification?
a $
b $
C
$
d $
What is Gross Profit on the Income Statement if Garden uses Weighted Average Cost?
a $
$
$
$
