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