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10 Im Cocina Quron 2 Following is the inventory Information provided for Zach Auto Supplies. The manager of Zach Auto Supplies has asked the newly hired bookkeeper to calculate inventory costing using FIFO. The work done by the bookkeeper has been provided below. Upon reviewing the work, it was realized that cost of roods sold and ending inventory was not calculated by the bookkeeper 111 Mars tentory sale and pushes Information from company Company Month Date Zach Auto Supplies Opening/Sale/Purchase units Cost per unit Price per unit Opening 4105 55.00 Purchased 7873 6606 12 Sold 872 S 112.26 Dec 16 Purchased 100715 661 1146 S 122.26 30 sold Work done by the bookkeeper aza Pali Ratio Analysis Long Ter Inventory - Valuation Section (MCO) Section (MCO) Inventory - costing Long Term Assets Ever Sheet Section (MCO) Work done by the bookkeeper Godi Sole Date Units Cost Total Unita Cost Total Us Cost Ele 1 22.10 410 14.00 66.00 782 51,992 55.00 410 22,950 782 06.06 51.999 410 55.00 12 22,550 462 66.06 30,522 325 6606 21,471 3251 66.06 21.471 16 1,007 66.81 67,282 1.007 66.81 67,282 325 66,06 21,471 30 Ratio Analysis Long Term Assets Long Ter Inventory costing Inventory - Valuation Section (MCO) ver Sheet Section (MCO) Section RMCO) 33 HE From the whole shown to calculate the total cost of code for the month of December IXO as well as the ending inventory us 36 Cost of Goods Sold 2 Mars Ending inventory 1 Mark 37 30 39 b) Calculate the Sales Revenue, Gross Profit and Gross Margin Round your calculation to two decimal places. 7 Sales Revenue 2. Marks 2 Marks Gross Profit Gross Margin Percentage 2 Marks c) Zach Auto Supplies' manager's bonus is tied to the gross profit. If prices are in which costing formula (FIFO OF Weighted Average Cost) will the manager want to use and why? Ratio Arsalysis Long Term Assets Long Teri Inventory Valuation Inventory - costing Section (MCO) Section (MCO) Section III(MCO) Ever Sheet A N H

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