62. total of $240 and used FIFO costing, the gross profit for the period would be a. $65. The LIFO inventory method assumes that the cost of the latest units purchased are c. the first to be allocated to cost of goods sold.aden Shoe Store has a beginning merchandise inventory of $15,000. During the period, purchases were $60,000; purchase returns, $2,000; and freight-in $5,000. A physical count of inventory at the end of the period revealed that $10,000 was still on hand.
PPG Pittsburgh Paints is a registered trademark of PPG Architectural Finishes, Inc. Dulux is a registered trademark of AkzoNobel and is licensed to PPG Architectural Coatings Canada, Inc. for use in Canada only.
Because DG is a measure of how favorable a reaction is, it also relates to the equilibrium constant. 1  A reaction with a negative DG, is very favorable, so it has a large K. 2  A reaction with a positive DG is not favorable, so it has a small K. 3  A reaction with DG = 0 is at equilibrium. 4  There are several different DG's.