Homework: Chapter 6 Score: 2.32 of 5 pts E6-19 (book/static) Save 20f 5 (3 compl

Q: Homework: Chapter 6 Score: 2.32 of 5 pts E6-19 (book/static) Save 20f 5 (3 compl

cost of goods sold 243 cost of year end inventory 98 income statement sales (8*22)+(14*22) 484 less cost of goods sold 243 gross profit 484-243 241 cost of goods sold 243 cost of year end inventory 98 income statement sales (8*22)+(14*22) 484 less cost of goods sold 243 gross profit 484-243 241

ID: 341921 • Letter: H

Question

Homework: Chapter 6 Score: 2.32 of 5 pts E6-19 (book/static) Save 20f 5 (3 complete) HW Score: 49.01%, 12.25 of 25 pts ssumetat Toys Galore store boughh and soid a ine cf dols during December as followS (cIck the icon so vlew the transactions) Toys Galore uses the perpetual inventory system. Read the eauiemeANA Requirement1. Compule the cosl ef gouts scle, coet of ending imeichandise inventory, and gross poft usin Uhe FiFO invenory celig metiod Cost ot Goods s Inventory on Hand Mare Info D Qantty CostC Cost Quantity Cost Quantity tCost 03 117 Dec Doc 1 Reginning mnrch nise inven ory 13 unns@9cach units @ ?? nach 16 units14 each 14 units $ 22 each G 14 S 224 8 Salt 14 Purchase 21 Sale 14 224 Dec. 21 9 45 7 14 90 14 20 olats Compute the gross prot usirg the using the FIFO inventory ccsting mathod Giass proit i Prin Done using lhe HiO mwentory crslng rmelhod. Enter any number in the edit fields and then cick Cherk Answer

Explanation / Answer

cost of goods sold

243

cost of year end inventory

income statement

sales

(8*22)+(14*22)

484

less cost of goods sold

243

gross profit

484-243

241