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he following are the transactions for the month of July. Units Unit Cost Unit Selling Price...

he following are the transactions for the month of July.


Units Unit Cost Unit
Selling Price
  July 1 Beginning Inventory 55 $ 10
  July 13 Purchase 275 11
  July 25 Sold ( 100 ) $ 14
  
  July 31 Ending Inventory 230

Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under (a) FIFO, (b) LIFO, and (c) weighted average cost. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.)

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ekkarill92 answered 1 year ago
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