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The Three Identical Units of Product Basic H Are Purchased

Question 164

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The three identical units of Product Basic H are purchased during July, as shown below.
The three identical units of Product Basic H are purchased during July, as shown below. Assume one unit sells on July 28 for $45. Determine the gross profit, cost of merchandise sold, and ending inventory on July 31 using (a) first in first out, (b) last in last out, (c) average cost flow methods. Assume one unit sells on July 28 for $45.
Determine the gross profit, cost of merchandise sold, and ending inventory on July 31 using (a) first in first out, (b) last in last out, (c) average cost flow methods.

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