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any help with this is greatly appreciated Name: Class Time: Turkeys Fryers, Inc. specializes in whole-turkey deep fryers. The following information was taken from the
any help with this is greatly appreciated
Name: Class Time: Turkeys Fryers, Inc. specializes in whole-turkey deep fryers. The following information was taken from the Company's inventory records for the fiscal year ended November 30, 2019. Units Value/Unit Total $ 36,000 Beginning Inventory Purchase 1-4/25/19 Purchase 2-10/20/19 Purchase 3-11/17/19 Ending Inventory - 11/30/19 11/30/18 400 $90.00 $100,00 900 $90,000 $169,600 $ 84,000 1,600 $106.00 $120.00 700 900 Calculate the required amounts and fill in the table below: Sales (in units): Goods Available for Sale (units): Goods Available for Sale ($): Cost of Goods Sold Ending Inventory FIFO LIFO Weighted Average The sales price was $140 per unit. Calculate the gross margins for Turkey Fryers using FIFO and LIFO. FIFO LIFO Sales Cost of Goods Sold Gross Margin What is the LIFO reserve at 11/30/19? What is inventory profit at 11/30/19Step by Step Solution
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