Fundamentals of Financial Accounting 4th Edition by Fred Phillips,Robert Libby,Patricia Libby

Exercise 58

Calculating Cost of Goods Available for Sale, Ending Inventory, Sales, Cost of Goods Sold, and Gross Profit under Periodic FIFO, LIFO, and Weighted Average Cost
Given the following information, calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under ( a ) FIFO, ( b ) LIFO, and ( c ) weighted average. Assume a periodic inventory system is used.