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Akira Company had the following transactions for the month. Number Total of Units Cost Beginning inventory 140 $1,400 Purchased Mar. 31 1,920 Purchased Oct. 15
Akira Company had the following transactions for the month. Number Total of Units Cost Beginning inventory 140 $1,400 Purchased Mar. 31 1,920 Purchased Oct. 15 1,950 Total goods available for sale 5,270 Ending inventory 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 $25 each. Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount. Gross Margin A. First-in, First-out (FIFO) B. Last-in, First-out (LIFO) C. Weighted Average (AVG) Check My Work All work saved Email Instructor Save and it Submit Assignment for Grading
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