Brutus Corporation, a newly formed corporation, has the following transactions during May, 2011, it's first month of operation.
Calculate total sales, cost of goods sold, gross profit and ending inventory using each of the following inventory methods:
1. FIFO Perpetual
2. FIFO Periodic
3. LIFO Perpetual
4. LIFO Periodic
5. Average Cost Periodic (round average to nearest cent)
Total Sales (not dependant on inventory method):

Question

Brutus Corporation, a newly formed corporation, has the following transactions during May, 2011, it's first month of operation.
  Calculate total sales, cost of goods sold, gross profit and ending inventory using each of the following inventory methods:
1. FIFO Perpetual
2. FIFO Periodic
3. LIFO Perpetual
4. LIFO Periodic
5. Average Cost Periodic (round average to nearest cent)
Total Sales (not dependant on inventory method):

Quizplus · Accepted Answer

The Answer of Brutus Corporation, a newly formed corporation, has the following transactions during May, 2011, it's first month of operation.
  Calculate total sales, cost of goods sold, gross profit and ending inventory using each of the following inventory methods:
1. FIFO Perpetual
2. FIFO Periodic
3. LIFO Perpetual
4. LIFO Periodic
5. Average Cost Periodic (round average to nearest cent)
Total Sales (not dependant on inventory method):

Brutus Corporation, a Newly Formed Corporation, Has the Following Transactions