Question

THE Company employs a periodic inventory system and
sells its inventory to customers for $10 per unit.
THE Company had the following inventory information
available for the month of May:

May 1    Beginning inventory 280 units @ $3.80 cost
         per unit
May 6    Purchased 350 units @ $4.90 cost per unit
May 8    Purchased 240 units @ $4.10 cost per unit
May 14   Sold 410 units
May 19   Purchased 400 units @ $5.75 cost per unit
May 23   Sold 270 units
May 27   Sold 120 units
May 29   Purchased 230 units @ $3.90 cost per unit

1.The amount of gross profit reported on THE Company's
income statement for May using the FIFO method was
equal to:

Group of answer choices

$3,066

$3,248

$3,476

$3,484

$3,712

$3,894

$4,106

$4,288

$4,524

$4,730

none of the above choices are correct

2.

The dollar amount of ending inventory shown on THE

Company's May 31 balance sheet using the weighted
average method was equal to:

Group of answer choices

$3,066

$3,248

$3,476

$3,484

$3,712

$3,894

$4,106

$4,288

$4,524

$4,730

none of the above choices are correct

3.

The amount of cost of goods sold reported on THE
Company's income statement for May using the LIFO
method was equal to:

Group of answer choices

$3,066

$3,248

$3,476

$3,484

$3,712

$3,894

$4,106

$4,288

$4,524

$4,730

none of the above choices are correct

Answer 1

1)

2)

3)