Purchased 3 units on 10" September $10/each. We sold 3 lemons on 1" September. We found 6 lemons left at the end of September. - Q1. What is the total revenue if the selling price is $20/each?- Q2. How many units are available for sale on 31 August (goods available for sales)? How much in total dollars amount? - Q3: Please calculate the cost of goods sold (the total cost of the lemons sold) under different methods. Please show your workings. a). b)- c). d). e). Q4: Among a)-c), which one can provide the largest Gross Profit? (Hint: Sales - Cost of goods sold = Gross Profit). Q5: Is it possible to include the cost of the lemons from 10th September purchase? -

Purchased 3 units on 10" September $10/each. We sold 3 lemons on 1" September. We found 6 lemons left at the end of September. - Q1. What is the total revenue if the selling price is $20/each?- Q2. How many units are available for sale on 31 August (goods available for sales)? How much in total dollars amount? - Q3: Please calculate the cost of goods sold (the total cost of the lemons sold) under different methods. Please show your workings. a). b)- c). d). e). Q4: Among a)-c), which one can provide the largest Gross Profit? (Hint: Sales - Cost of goods sold = Gross Profit). Q5: Is it possible to include the cost of the lemons from 10th September purchase? -

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter20: Accounting For Inventory

Section: Chapter Questions

Problem 1MP

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