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Assume that Cup 'O Joe Coffee Shop completed the following periodic inventory transactions for a line of merchandise inventory: (Click the icon to view the
Assume that Cup 'O Joe Coffee Shop completed the following periodic inventory transactions for a line of merchandise inventory: (Click the icon to view the transactions.) Read the requirements. profit using the (1) FIFO inventory costing method, (2) LIFO inventory costing It to the nearest cent and all other amounts to the nearest dollar.) More info methods. Jun. 1 Beginning merchandise inventory 22 units @ $25 each Jun. 12 Purchase Jun. 20 Sale 6 units @ $28 each 12 units @ $35 each 12 units @ $31 each 21 units @ $35 each Purchase Jun. 24 Jun. 29 Sale Print Done Requirements ... 1. Compute ending merchandise inventory, cost of goods sold, and gross profit using the FIFO inventory costing method. 2. Compute ending merchandise inventory, cost of goods sold, and gross profit using the LIFO inventory costing method. 3. Compute ending merchandise inventory, cost of goods sold, and gross profit using the weighted-average inventory costing method. (Round weighted- average cost per unit to the nearest cent and all other amounts to the nearest dollar.) Print Done
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