Current Attempt in Progress Soft Touch Company sells leather furniture. The following schedule relates to the company's inventory for the month of April: April 1 3 5 11 15 22 28 Beginning inventory Purchase Sale Purchase Sale Sale Purchase 74 units 52 units 26 units. 26 units 62 units 38 units 48 units Soft Touch uses the periodic inventory system. Cost $43,734 32,708 17,004 32,832 Sales $30,004 79,670 47,386

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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find cost of goods sold ending inventory and gross margin using FIFO and weighted average Kindly answer in text with all workings
Current Attempt in Progress
Soft Touch Company sells leather furniture. The following schedule relates to the company's inventory for the month of April:
April 1
3
5
11
15
LON
22
28
Beginning inventory
Purchase
Sale
Purchase
Sale
Sale
Purchase:
74 units
52 units
26 units
26 units
62 units
38 units
48 units
Soft Touch uses the periodic inventory system.
Cost
$43,734
32,708
17,004
32,832
Sales
$30,004
79.670
47,386
Transcribed Image Text:Current Attempt in Progress Soft Touch Company sells leather furniture. The following schedule relates to the company's inventory for the month of April: April 1 3 5 11 15 LON 22 28 Beginning inventory Purchase Sale Purchase Sale Sale Purchase: 74 units 52 units 26 units 26 units 62 units 38 units 48 units Soft Touch uses the periodic inventory system. Cost $43,734 32,708 17,004 32,832 Sales $30,004 79.670 47,386
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