The Records of Weight Unlimited Showed the Following for June

question 129

Essay

The records of Weight Unlimited showed the following for June: $\begin{array}{|l|l|}\hline \text { Sales } & 2,100 \text { units at } \$ 100 \text { each } \\\hline \text { Purchases } & 2,000 \text { units at } \$ 75 \text { each } \\\hline \text { Beginning inventory } & 3,000 \text { units at } \$ 56 \text { each } \\\hline\end{array}$
Assuming the periodic inventory system is used complete the following tabulation. $\begin{array} { | l | l | l | } \hline & \text { FIFO } & \text { Weighted Average } \\\hline \text { (1) Sales } & \$ & \$ \\\hline \text { (2) Cost of goods sold } & \$ & \$ \\\hline \text { (3) Gross margin } & \$ & \$ \\\hline \text { (4) Ending inventory } & \$ & \$ \\\hline\end{array}$

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Definitions:

Architectural Expertise

Specialized knowledge or skills in the design and construction of buildings or structures, focusing on aspects such as aesthetics, functionality, and safety.

Amygdala

An area of brain tissue, with extensive connections to the olfactory system and hypothalamus, thought to be involved in mood, feeling, instinct, and short-term memory.

Cerebellum

Part of the brain that controls balance and muscular coordination.

Critical Thinking Skills

The capacity for objective analysis and evaluation of an issue in order to form a judgment.