Skysong, Inc. just began business and made the following four inventory purchases in June:

June 1 123 units $850
June 10 164 units 1280
June 15 164 units 1380
June 28 123 units 1080
$4590

A physical count of merchandise inventory (rounded to whole dollar) on June 30 reveals that there are 170 units on hand. The inventory method which results in the highest gross profit for June is

Respuesta :

Answer:

The inventory method which results in the highest gross profit for June is FIFO

Explanation:

Month Units Cost U/cost LIFO E.INVEN. I.COST

jun-01 123         850              7          123             861 0

jun-10 164         1280      8  47           376 936

jun-15 164          1380     8          0               0 1312

jun-28 123         1080     9          0               0 1107

               4590                 170          1237        3355

     

     

   FIFO E.INVEN. I.COST

  7 0                0 861

  8 0               0 1312

  8 47           376 936

  9 123          1107 0

   170         1483 3109