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A fire completely destroyed the entire inventory of Printing Delight Co. on March 15, 20__. Fortunately, the books were not destroyed in the fire. The

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A fire completely destroyed the entire inventory of Printing Delight Co. on March 15, 20__. Fortunately, the books were not destroyed in the fire. The following information is taken from the books of Printing Delight Co. for the time period, January 1, 20__ through March 15, 20 ___: 1. Estimate the cost of goods sold for the time period January 1 through March 15, 20___, using the gross profit method. 2. Estimate the amount of merchandise inventory destroyed in the fire on March 15, 20___, using the gross profit method. Smart Tech's beginning inventory and purchases for the month of August were as follows: Calculate the total amount to be assigned to cost of goods sold and ending inventory for August 31, using each of the following methods. a. First-in, first-out (FIFO) b. Last-in, first-out (LIFo) c. Weighted-average cost (round the unit price)

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