(Answered) Problem - you are provided with the following information

Accounting

Problem - You are provided with the following information for Najera Inc. for the month ended June 30, 2017. Najera uses the periodic method for inventory.

Date	Description	Quantity	Unit Cost or
			Selling Price
June 1	Beginning inventory	40	$40
June 4	Purchase	136	44
June 10	Sale	115	69
June 11	Sale return	12	69
June 18	Purchase	58	46
June 18	Purchase return	9	46
June 25	Sale	66	74
June 28	Purchase	35	50

Calculate cost per unit.

Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost.

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Accounting Basics, Accounting

Category:- Accounting Basics
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