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Assume that mooth Sating The Store completed the following perpetua inventory transactions for a line of on to the transactions) Read the fun Requirement 1. Compute cost of goods sold and you profit using the FIFO inventory costing Deon by competing the cost of goods solded contending merchandise inventory in Finventory conting method Enter the transactions in chronological order, calculating new entry on and Dances are action Onion of the transactions have been tored into the perpetual record, calculate the quantity and cost of merchandise nventory purchased, old, wd on hand at the end of the period. (Enter the entry entral Purchases Cost of Goods Sold Inventory on Hand Un Total Unit Total Unit Total Det Quantity Quantity Cost Cost Quantity Cost Cost Cout Cost May 11 23 36 20 Total Cime you goinvertory corting method Assume that Smooth Sailing Tre Store completed the following perpetual inventory transactions for a near con to view the ansactions) Head the Computers profit using the FIFO inventory contingthod Cross sing the FIFO inventory conting method Requirement 2. Compte cost of goods sold und gross profit using the LIFO inventory costing method Begin by computing the cool of goods sold and cont of ending merchandise inventory using the LIFO ventory conting methos. Entre actions in corder, calculating new inventory on and awachanation Once with a have been entered into the perpetual record, colety wd total cost of merchandise invertory purchased, old, and on and of the end of the period to the oldest inventory left Purchases Cost of Goods Sold Inventory on Handt Unit Total Unit Total UE Total Date Quantity Cost Cost Quantity Cost Cost Quantity Cost Cost May 23 26 29 Turiais Computer profit using the LIFO Inventory coating method Amuna that incoh Sasing The Store completed the following person inventory transactions for a line offres Click on the ins) Red Compune gross profesing the Loro Inventory conting method Gros using the UFO ventory contingend Requirement Compute con el goods sold and grous profusing the waverage costing method (Round weighted average cost per un to the new tent and all other amounts the rear) Begin by coming the cost of goods sold and cost of ending merchandise inventory in the weige average inventory costing method to the action in chronological order calourg new invertory and we were ansaction One of the transactions have been entered into the perpetrecot, culote et and total cost of merchandise Wertory redold, and on and the end of the period Purchases Cost of Goods Bold Inventory on Hand Unit Total Une Total Unit Total Date Quantity Cost Cout Cost Quantity Cost Cost May 1 11 23 Cou Total Computeyota pro ingegaverage mentory contingered Gros using the weigh-verage or conting method Requirement 4. Which oder gross profit, and why The method in the largest gros prot because during times of Mentory prices, the produce the CORE More Info May 1 Beginning merchandise inventory May 11 Purchase May 23 Sale May 26 Purchase May 29 Sale 20 tires @ $66 each 8 tires @ $73 each 15 tires @ $84 each 13 tires @ $84 each 15 tires @ $84 each Print Done hod

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