Calculate ending inventory-COMS-Gross Profit based on FIFO

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Reference no: EM131204831

The following transactions took place during the month of March: March 1-Beginnng Inventory 20 units at $5=100

March 10-Purchase 15 units at $7=105

March 17-Purchase 12 units at $8=96

March 27-Purchase 18 units at $10=180 65 units

A physical inventory count on March 31 revealed 22 units were left on hand. Calculate ending inventory, COMS, and Gross Profit based on FIFO, LIFO, and Average Cost. Each unit sold for $15.

Reference no: EM131204831

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