In: Accounting
Westside Greenhouse sells different greenhouses for purchase. Inventory is as below.
Units |
Cost |
Total |
|
Beginning Inventory |
8 |
$433 |
|
March 6 |
14 |
$449 |
|
June 28 |
19 |
$451 |
|
August 31 |
13 |
$452 |
|
November 20 |
9 |
$456 |
|
Total Number of units: |
Of the 11 houses still on hand, 9 were purchased in November, 1 was purchased in August and 1 was purchased in June. We sold the greenhouses for $799.
Specific Identification |
First- In, First-Out |
Last-In, First-Out |
Weighted Average |
|
Cost of Ending Inventory |
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Sales |
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Less: Cost of Merchandise Sold |
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Gross profit on sales |