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Business, 24.03.2020 18:06 yasherebernalgoxa5kc

Three identical units of merchandise were purchased during July, as follows: Date Product T Units Cost July 3 Purchase 1 $30.00 10 Purchase 1 33.00 24 Purchase 1 36.00 Total 3 $99.00 Average cost per unit $33.00 Assume one unit sells on July 28 for $47.00. Determine the gross profit, cost of goods sold, and ending inventory on July 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) average cost flow methods.

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