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(a) Blossom Company had a beginning inventory balance on July 1 of 430 units at a cost of $2.90 each. During the month, the following
(a) Blossom Company had a beginning inventory balance on July 1 of 430 units at a cost of $2.90 each. During the month, the following inventory transactions took place: Purchases Sales Date Units Cost per unit Date Units Price per unit July 10 1,480 $3.00 July 2 310 $5.90 13 670 3.20 11 1,040 5.90 27 620 3.40 28 560 6.60 Your answer is correct. Calculate the cost of goods available for sale and the number of units of ending inventory. Cost of goods available for sale $ Number of units of ending inventory eTextbook and Media List of Accounts 9,939 1,290 units Attempts: 1 of 5 (b) Assume Blossom uses FIFO periodic. Calculate the cost of ending inventory, cost of the goods sold, and gross profit. Ending inventory $ Cost of goods sold $ Gross profit $ eTextbook and Media List of Accounts
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