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3 Presented below is financial information for two companies Company Company I d) $ 90,000 Sales Returns Net Sales Cost of Goods Sold Gross Profit

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3 Presented below is financial information for two companies Company Company I d) $ 90,000 Sales Returns Net Sales Cost of Goods Sold Gross Profit Operating Expenses Net income (a) $ 5,000 81,000 56,000 95,000 41,500 15,000 15,000 (c Determine the missing amounts 4 You are provided with the following information for Lahi Inc. fro the month ended October 31, 2015. Lahi used the perpetual inventory method Description Units Unit Cost/Selling Price $ 25 Beginning Inventory Purchase 01-Oct 11-Oct 17-Oct 22-Oct 120 100 70 27 28 40 Purchase 150 1 Calculate the Ending Inventory. Cost of Goods Sold and Gross Profit under FIFO 2 Calculate the Ending lnventory. Cost of Goods Sold and Gross Profit under LIFO 3 Calculate the Ending Inventory. Cost of Goods Sold and Gross Profit under Weighted Average S Hardy Photography's checkbook lists the following Date Check No Item Chec Deposit Balance 01-Nov 04-Nov 622 Quick Mailing 09-Nov 13-Nov623 Photo Supplies 4-Nov 624 Utilities 18-Nov 625 Cash 26 Nov 626 Office Supplies 28-Nov627 Upstate Realty Co 30-Nov $ 500 455 $ 135 590 505 460 410 45 Service Revenue 85 45 50 110 290 10 1,235 1,245 Service Revenue

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