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Requirement 1.
Purchases
Cost of Goods Sold
Inventory on Hand
Unit
Total
Unit
Total
Unit
Total
Date
Quantity
Cost
Cost
Quantity
Cost
Cost
Quantity
Cost
Cost
Aug. 1
3
8
21
30
Totals
Requirement 2.
Purchases
Cost of Goods Sold
Inventory on Hand
Unit
Total
Units
Total
Unit
Total
Date
Quantity
Cost
Cost
Quantity
Cost
Cost
Quantity
Cost
Cost
Aug. 1
3
8
21
30
Totals
Requirement 3.
Purchases
Cost of Goods Sold
Inventory on Hand
Unit
Total
Unit
Total
Unit
Total
Date
Quantity
Cost
Cost
Quantity
Cost
Cost
Quantity
Cost
Cost
Aug. 1
3
8
21
30
Totals
Requirement 4.
August
The cost of goods sold amount for August using FIFO inventory costing is $
.
The cost of goods sold amount for August using LIFO inventory costing is $
.
The cost of goods sold amount for August using weighted-average inventory costing is $
.
Requirement 5.
August
Sales Revenue
–
Cost of Goods Sold
=
Gross profit
FIFO
–
=
LIFO
–
=
Weighted-average
–
=
Requirement 6.
▼
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