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A company sells tires and uses a perpetual inventory system. The following is available for the month: i (Click the icon to view the transactions.)
A company sells tires and uses a perpetual inventory system. The following is available for the month: i (Click the icon to view the transactions.) Indicate gross profit for the month assuming FIFO inventory costing. Gross profit is $ using the FIFO inventory costing method. () Indicate gross profit for the month assuming LIFO inventory costing. Gross profit is $ using the LIFO inventory costing method. (1) Indicate gross profit for the month assuming weighted average inventory costing. (For weighted-average calculations, round per unit costs to the nearest cent and all other amounts to the nearest dollar.) Gross profit is s using the weighted average inventory costing method. More Info 53 each Dec. 1 Beginning merchandise inventory 11 Purchase 23 Sale 26 Purchase 22 tires @ $ 14 tires @ $ 18 tires @ S 10 tires @ $ 19 tires @ $ 71 each 86 each 74 each 29 Sale 86 each Print Done
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