Green Forest Inc. had the following purchases and sales in October. Calculate the Cost of Goods Sold for the month, Ending inventory balance, and Gross Profit under FIFO, LIFO and Weighted Average.
| Date | Units | Cost | Total | Sales Price | ||
| Oct 1 | Beginning Balance | 25 | 28 | $700 | ||
| Oct 5 | Purchase | 55 | 27 | $1,485 | ||
| Oct 10 | Purchase | 100 | 21 | $2,100 | ||
| Oct 13 | Sale | 60 | $45 | |||
| Oct 20 | Sale | 40 | $45 | |||
| Oct 23 | Purchase | 65 | 22 | $1,430 | ||
| Oct 30 | Sale | 30 | $45 | |||
Calculate the Cost of Goods Sold, Ending inventory, and Gross Profit for the month under FIFO, LIFO, and Weighted Average
FIFO
| Cost of Goods Sold | $ |
| Ending Inventory | $ |
| Gross Profit | $ |
LIFO
| Cost of Goods Sold | $ |
| Ending Inventory | $ |
| Gross Profit | $ |
Weighted Average. Do not round the unit cost. Do round total costs to the nearest cent on each transaction.
| Cost of Goods Sold | $ |
| Ending Inventory | $ |
| Gross Profit | $ |