Barr Lawn Supply, which uses the FIFO method, began March with 200 units of inventory that cost $40 each. During March, Barr completed these inventory transactions:

Required
1. Prepare a perpetual inventory record for the lawn supply merchandise.
2. Determine Barr's cost of goods sold for March.
3. Compute gross margin for March.

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Units 48 160 96 124 Unit Cost Unit Sale Price Mar. 2 8 17 Purchase Sale Purchase Sale $50 $144 60 150