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A) Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round answers to
A) Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round answers to 0 decimal place, e.g. 125.)
B) Calculate gross profit rate for each method LIFO, FIFO, Average Inventory
You have the following information for Windsor, Inc. for the month ended October 31, 2017. Windsor, Inc. uses a periodic method for inventory Description Units 56 122 90 108 Unit Cost or Selling Price Date Oct. 1 Beginning inventory Oct. 9 Purchase Oct. 11 Sale Oct. 17 Purchase Oct. 22 Sale Oct. 25 Purchase Oct. 29 Sale $23 25 26 39 28 39 67 113Step by Step Solution
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