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Transaction Units Per Unit Total Apr 3- Inventory 25 $1200 $30000 Apr 8- Purchase 75 1240 93000 Apr 11- Sale 40 2000 80000 Apr 30- Sale 30 2000 60000 May 8- Purchase 60 1260 75600 May 10- Sale 50 2000 100000 May 19- Sale 20 2000 40000 May 28- Purchase 80 1260 100000 June 5- Sale 40 2250 90000 June 16- Sale 25 2250 56250 June 21- Purchase 35 1264 44240 June 28- Sale 44 2250 99000 Required: 1. Determine the inventory on June 30 2014 and the cost of goods sold for the three-month period using the first-in first-out method and the periodic inventory system. 2. Determine the inventory on June 30 2014 and the cost of goods sold for the three-month period using the last-in first-out method and the periodic inventory system. 3. Determine the inventory on June 30 2014 and the cost of goods sold for the three-month period using the weighted average cost method and the periodic inventory system. Round the weighted average unit cost to the nearest cent and final answers to the nearest dollar. 4. Compare the gross profit and June 30 2014 inventories using the following column headings. Enter all amounts as positive numbers. Weighted Average CostFIFO FIFO Sales $ $ $ Cost of merchandise sold Gross profit $ $ $ Inventory June 30 2014 $ $ $

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