Vaughn company sells fishing poles for 35 each and uses the

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Vaughn company sells fishing poles for 35$ each and uses the perpetual inventory system. The following information is available for the month of May: May 1 beginning inventory 20 units @ 5$: May 10 purchase 20 units @ 8$: May 15 sales 25 units: May 18 Purchase 10 units@ 9$: May 21 23 units A) using LIFO prepare the journal entries

1A) What is the ending inventory on May 30th in units and Dollars? B) Using FIFO: What is the inventory on May 30th in units and dollars?

1B) What is the Gross profit?

Reference no: EM13603826

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