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1. Compute FIFO, LIFO, & Average Cost Method for both the Periodic and Perpetual inventory system. 2. Also, make a summary table and a partial

1. Compute FIFO, LIFO, & Average Cost Method for both the Periodic and Perpetual inventory system. 2. Also, make a summary table and a partial income statement through gross profit for each inventory valuation method & inventory system.
12/01 12/04 12/06 12/08 12/11 12/14 12/19 12/22 12/24 12/28 Balance Purchase Sale Purchase Sale Sale Purchase Purchase Sale Sale Units 330 650 420 500 340 270 480 250 360 510 Price 7.40 7.60 10.50 7.70 10.60 10.70 7.70 7.80 10.70 10.80

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