The Records of Dollars 2 Donuts Ltd Assuming the Periodic Inventory System Is Used Complete the Following

Essay

The records of Dollars 2 Donuts Ltd.showed the following for June: $$\begin{array} {| l |l| } \hline\text { Sales } \ldots \ldots \ldots \ldots \ldots \ldots & 4,200 \text { units at } \$ 200 \text { each } \\\hline\text { Purchase } \ldots \ldots \ldots \ldots \ldots & 4,000 \text { units at } \$ 150 \text { each } \\\hline \text { Beginning Inventory } \ldots \ldots \ldots & 6,000 \text { units at } \$ 100 \text { each }\\\hline\end{array}$$ Assuming the periodic inventory system is used complete the following tabulation. $$\begin{array} { | l | l| l| } \hline & \text { FIFO } & \text { Weighted Average } \\\hline \text { (1) Sales ....... } & \$ \_\_\_ & \$\_\_\_ \\\text { (2) Cost of goods sold. . } &\$ \_\_\_ & \$\_\_\_ \\\text { (3) Gross margin. .... } & \$ \_\_\_ & \$\_\_\_ \\\text { (4) Ending inventory... } &\$ \_\_\_ & \$\_\_\_ \\\hline\end{array}$$ Computations:
FIFO:
Weighted Average: