Refer to the information in Exercise 6-7. Ending inventory consists of 45 units from the March 14
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Refer to the information in Exercise 6-7. Ending inventory consists of 45 units from the March 14 purchase, 75 units from the July 30 purchase, and all 100 units from the October 26 purchase. Using the specific identification method, calculate
(a) the cost of goods sold and
(b) the gross profit. (Round amounts to dollars and cents.)
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Related Book For
Fundamental Accounting Principles Volume 2
ISBN: 9780077716660
21st Edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
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