Business, 13.01.2022 09:20 chycooper101
You are provided with the following information for Koetteritz Inc. for the month
ended June 30, 2017. Koetteritz uses the periodic method for inventory.
Date Description Quantity Unit Cost or Selling Price
June 1 Beginning inventory 40 $40
June 4 Purchase 135 43
June 10 Sale 110 70
June 11 Sale return 15 70
June 18 Purchase 55 46
June 18 Purchase return 10 46
June 25 Sale 65 76
June 28 Purchase 35 50
Calculate ending inventory, cost of goods sold, gross profit under each of the following methods.
(1) LIFO.
(2) FIFO.
(3) Average-cost.
Answers: 1
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You are provided with the following information for Koetteritz Inc. for the month
ended June 30, 2...
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