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Bingel [31]
3 years ago
7

Compute gross profit earned by the company for each of the four costing methods. For specific identification, the March 9 sale c

onsisted of 100 units from beginning inventory and 230 units from the March 5 purchase; the March 29 sale consisted of 80 units from the March 18 purchase and 120 units from the March 25 purchase. (Round weighted average cost per unit to two decimals and final answers to nearest whole dollar.)\

Business
1 answer:
vova2212 [387]3 years ago
4 0

Answer:

Gross profit earned by the company for each of the four costing methods = Subtraction of Total cost of goods sold from Total Sales

$48,322 - $30,651 = $17,671

Explanation:

Total sales = (330 x 87.4) + (200 x 97.4) = $48,322

Total cost of goods sold overweighted average method = $30,651

Subtract $48,322 from $30,651 to give $17,671 as the gross profit.

In the attached picture, Your will see average costs calculated and the inventory values for March 5, 9, 25, and 29.

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The 2017 and 2016 balance sheets of Rabb Corporation follow. The 2017 income statement is also provided. Rabb had no noncash inv
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I looked for the missing information (IS & BS) since the information was missing

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