Exercise 6-4 Ohsweken Outdoor Stores Inc. uses a perpetual inventory system and has a beginning inventory, as at April 1, of 185 tents. This consists of 47 tents at a cost of $208 and 138 tents at a cost of $226 each. During April, the company had the following purchases and sales of tents: Purchases Sales Date Units Unit Cost Units Unit Price Apr. 3 $400 10 202 $276 17 400 260 300 24 305 402 200 Determine the cost of goods sold and the cost of the ending inventory using FIFO Cost of goods sold Cost of the ending inventory Calculate Ohsweken outdoors’s gross profit and gross profit margin for the month of April. (Round gross profit margin to 1 decimal place, e.g. 1.2.) Gross profit Show transcribed image text Exercise 6-4 Ohsweken Outdoor Stores Inc. uses a perpetual inventory system and has a beginning inventory, as at April 1, of 185 tents. This consists of 47 tents at a cost of $208 and 138 tents at a cost of $226 each. During April, the company had the following purchases and sales of tents: Purchases Sales Date Units Unit Cost Units Unit Price Apr. 3 $400 10 202 $276 17 400 260 300 24 305 402 200 Determine the cost of goods sold and the cost of the ending inventory using FIFO Cost of goods sold Cost of the ending inventory Calculate Ohsweken outdoors’s gross profit and gross profit margin for the month of April. (Round gross profit margin to 1 decimal place, e.g. 1.2.) Gross profit
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