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what is the answer to this question? Problem \#2-Periodic Inventories (25...

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Accounting

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Problem \#2-Periodic Inventories (25 Points) The following information related to its merchandise inventory during the month of August 2006 is available: Aug 1 - Inventory on hand 2,000 units; cost $8.50 each. Aug 8 - Purchase 9,500 units for $9.00 each. Aug 15 - Sold 8,500 units for $17.00 each. Aug 17 - Purchase 10,500 units for $9.50 each. Aug 26 - Sold 10,000 units for $17.50 each. Aug 31 - Inventory on hand 3,500 units. Calculate the following as of Aug 31, 2006 using periodic method and using Ave Cost, FIFO and LIFO: (No Specific Identification) - Good Avallable for Sale - Ending Inventory - Cost of Goods Sold - Sales - Gross Profit

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