Compony Golden Gifts Company reports the following information regarding merchandise in its store's inventory for...
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Accounting
Compony Golden Gifts Company reports the following information regarding merchandise in its store's inventory for the month of May. Assume that Golden Gifts Company uses the periodic system and that 300 units of merchandise were on hand on May 31 Question 3 May 1 May 10 May 16 May 24 Inventory Purchase Purchase Purchase 100 300 400 200 $50 60 70 80 $ 5,000 18,000 28,000 16,000 7000 a What is the cost of goods available for sale for May? 23 000 50r00d How many units of inventory were available for sale during May? What is the cost of ending inventory under FIFO? How much is cost of goods sold under LIFO? c 231100 If Golden Gift Company has sales of $70,000 in May and uses the weighted averoge method, how much is the gross profit for May
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