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4 (12 points) Hawley Inc is a retailer of electronic equipment. On 1/1/2022 Hawley had 100 TV's that had a cost of $250 each. Hawley
4 (12 points) Hawley Inc is a retailer of electronic equipment. On 1/1/2022 Hawley had 100 TV's that had a cost of $250 each. Hawley purchased 200 TV's on 1/12/2022 for $260 each and 300 TV's on 1/19/2022 for $300 each. Hawley sold 400 TV's during the month for $500 each. (A) Compute Hawley's Ending Inventory using LIFO (show work)? (B) Compute Hawley's Cost of Goods Sold using FIFO (show work)? (C) What is Hawley's Gross Profit for January if Hawley used LIFO (show work)? (D) Ignore prior. If Hawley uses the perpetual method and pays $100 cash for shipping for the January 12 purchase, how would Hawley record this (show the debit and credit accounts and amounts) Acct/Amount Debit Acct/Amount Credit
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