Gross Profit, cost of goods sold and ending inventory FIFO

[@AryanSharma-qf6mb]

I swear bro you saved my ass with this and the other video subscribed and liked them both to show my appreciation.

[@Firegod386]

Lol

[@امانيالبعداني-ض6و]

Thanks a million , Doctor.

[@stevenleung10]

Hello Jeff, it seems you might have added incorrectly for the COGS. I believe the answer is 268.

[@jefffishercpa1041]

Yes. Never underestimate the importance of a calculator!!

[@kellinprueitt43]

THANK YOU!!!! LEGEND

[@byul-ml1tp]

Hi I wanna ask, what,if there are beginning inventory ?

[@fawadzaffar6013]

Add it with starting balance

[@clementvenesah9755]

And how about the periodic inventory system?

[@musaluywa978]

Why was the profit different?

[@gunduza6097]

Something is wrong here on the cost of goods sold. its showing $258 instead of $268.

[@maheshm4576]

Thanks a lot

[@lorenzjoshuaciubal9927]

Isnt the cost of goods sold supposed to be 268?

[@paulbeebe5801]

I was thinking the same thing, and gross profit would be $452

[@francescotagliavento8081]

what is the gross profit if the elements of the income statemnt look as follows: secondary income 33,000; COGS 68.000; depreciation 500; sales 100,000?
a)32,000
b) 20,000
c)32,500
d)25,000
e) none of above answers is correct
Someone could help me? I don't know how to calculate that?

[@ka-boom2083]

What if there are beginning inventory?

[@jasonstatham6334]

What if the selling price was not given?

[@jefffishercpa1041]

You do everything but gross profit

[@trendingtoday3947]

Thanks