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Three Identical Units of Merchandise Were Purchased During July,as Follows

Question 106

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Three identical units of merchandise were purchased during July,as follows:
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Three identical units of merchandise were purchased during July,as follows: ​ Assume one unit sells on July 28 for $45. Determine the gross profit,cost of goods sold,and ending inventory on July 31 using (a)first-in,first-out,(b)last-in,first-out,and (c)average cost flow methods. Assume one unit sells on July 28 for $45.
Determine the gross profit,cost of goods sold,and ending inventory on July 31 using (a)first-in,first-out,(b)last-in,first-out,and (c)average cost flow methods.

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