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Akira Company had the following transactions for the month. Number of Units Total Cost Beginning inventory 130 $1,300 Purchased Mar. 31 160 1,920 Purchased Oct.
Akira Company had the following transactions for the month. Number of Units Total Cost Beginning inventory 130 $1,300 Purchased Mar. 31 160 1,920 Purchased Oct. 15 130 1,950 Total goods available for sale 420 5,170 Ending inventory 50 ? Calculate the gross margin for the period for each of the following cost allocation methods, using periodic inventory updating. Assume that all units were sold for $27 each. Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount. A. First-in, First-out (FIFO) B. Last-in, First-out (LIFO) C. Weighted Average (AVG) Gross Margin
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