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A retailer of office desks reports the following information for year 2. The retailer sells 550 desks during year 2 at an average sales price

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A retailer of office desks reports the following information for year 2. The retailer sells 550 desks during year 2 at an average sales price of $63.636 per desk. The retailer has 50 desks remaining in inventory at December 31 , year 2. If the retailer uses the specific identification inventory valuation method, then what will be the cost of goods sold, gross profit, and ending inventory for year 2? Assume the remaining inventory consists of 50 desks that were purchased in the second lot (i.e., at $50 per desk)

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