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Assume that a company started July with 65 units of merchandise inventory that cost $82 each. During July, the company made the following purchases: (Click
Assume that a company started July with 65 units of merchandise inventory that cost $82 each. During July, the company made the following purchases: (Click the icon to view the purchases.) The company uses a periodic inventory system. Assume that a physical inventory count on July 31 indicates that 80 units are on hand. Data Table (A) Calculate the cost of ending inventory, and cost of goods sold for July, using each inventory costing method. FIFO Weighted-average Ending inventory Jul. 3 25 units@$ 90 each Cost of goods sold 12 30 units S 90 each 18 35 units $ 96 each (B) Assume that total sales revenue for July was $26,000. Calculate gross profit for July using each inventory costing method FIFO Cost LIFO Cost Weighted-average PrintDone Gross profit Enter any number in the edit fields and then click Check
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