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A company provides the following inventory records. Number of units sold = Selling price per unit = Date Transaction January 1 Beginning inventory March

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A company provides the following inventory records. Number of units sold = Selling price per unit = Date Transaction January 1 Beginning inventory March 12 Purchase June 5 Purchase October 22 Purchase Totals Required: 8,5000 $30.00 Number of Units Unit Cost Total Cost 1,200 $10.25 $12,300 2,200 10.30 22,660 2,700 10.40 28,080 3,900 10,000 10.60 41,340 $104,380 1. Based on the Information given above, calculate cost of goods sold and ending inventory using the FIFO method. 2. Calculate cost of goods sold and ending inventory using the LIFO method. 3. Calculate cost of goods sold and ending inventory using the Weighted Average Method. 4. Calculate gross profit under all three methods.

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