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Compute ending merchandise inventory

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Reference no: EM132241167

Question - Assume that Dunk Coffee Shop completed the following periodic inventory transactions for a line of merchandise inventory:

Jun 1 Beginning merchandise inventory

18 units @ $ 15 each

12 Purchase

4 units @ $ 16 each

20 Sale

12 units @ $35 each

24 Purchase

20 units @ $19 each

29 Sale

21 units @ $35 each

Requirements -

1. Compute ending merchandise inventory, cost of goods sold, and gross profit using the FIFO inventory costing method.

2. Compute ending merchandise inventory, cost of goods sold, and gross profit using the LIFO inventory costing method.

3. Compute ending merchandise inventory, cost of goods sold, and gross profit using the weighted-average inventory costing method.

Reference no: EM132241167

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