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Assume that Cup 0 Joe Coffee Shop completed the following periodic inventory transactions for a line of merchandise inventory (Click the loon to view
Assume that Cup 0 Joe Coffee Shop completed the following periodic inventory transactions for a line of merchandise inventory (Click the loon to view the transactions.) Read the Requirements 1, 2, and 3. Compute ending merchandise inventory, cost of goods sold, and gross pront using the (1)FO inventory costing method. (2) LIPO inventory costing method, and (3) weghind-average inventory costing method (Round weighted average cost per unit to the nearest cent and all other amounts to the nearest do Begin by determining ending merchandise inventory and cost of goods sold under each of the three methods PLA Requirement 1 Less Cost of goods sold Now compute the gross profit under each inventory costing method Sales Revenue Cost of Goods Sold Gross Prof Requirement 1. TWO Requirement 2 LIFO Requirement 3 Weighted Average Requirement 2 Requirement 3 LIFO Weighted Average
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