You have the following information for Vincent Inc. for the month ended October 31, 2014. Vincent uses a periodic method for inventory.
|
date
|
description
|
units
|
unit cost or selling price
|
|
10/1
|
Beginning inventory
|
62
|
$25
|
|
10/9
|
Purchase
|
124
|
27
|
|
10/11
|
Sale
|
103
|
36
|
|
10/17
|
Purchase
|
103
|
28
|
|
10/22
|
Sale
|
62
|
41
|
|
10/25
|
Purchase
|
72
|
30
|
|
10/29
|
Sale
|
113
|
42
|
weighted average cost for unit : 27.540
|
|
LIFO
|
FIFO
|
AVERAGE COST
|
|
ending inventory
|
|
|
|
|
cost of goods sold
|
|
|
|
|
gross profit
|
|
|
|