Brutus Corporation, a Newly Formed Corporation, Has the Following Transactions

Essay

Brutus Corporation, a newly formed corporation, has the following transactions during May, its first month of operations.​ Calculate total sales, cost of goods sold, gross profit, and ending inventory using each of the following inventory methods:
1. FIFO perpetual
2. FIFO periodic
3. LIFO perpetual
4. LIFO periodic
5. Average cost periodic (round average to nearest cent)