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What is the amount of gross margin for month june

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Reference no: EM132724552

Kayla Company uses the perpetual inventory system and the LIFO method. The following information is available for the month of June:

June 1Beginning inventory200 units @ $512

Purchase on account400 units @ $615

Sales on account440 units23

Purchase on account300 units @ $727

Sales on account 360 units

The selling price (price the company charged the customers) was $10 per unit.

Problem a) Show the calculation of cost of goods sold and ending inventory under LIFO.

Problem b) What is the amount of Sales Revenue?

Problem c) journal entry for the sale of inventory on June 15.

Problem d) In which financial statement does the amount of ending inventory appear?

Problem e) In which financial statement do the amount of sales and amount of cost of goods sold appear?

Problem f) What is the amount of gross margin for month June?

Problem g) What is the gross margin percentage?

Reference no: EM132724552

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