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Assume that Star Coffee Shop completed the following periodic inventory transactions for a line of merchandise inventory: i (Click the icon to view the
Assume that Star Coffee Shop completed the following periodic inventory transactions for a line of merchandise inventory: i (Click the icon to view the transactions.) Read the requirements. Requirements 1., 2., and 3. Compute ending merchandise inventory, cost of goods sold, and gross profit using the (1) FIFO inventory costing method, (2) LIFO inventory costing method, and (3) weighted-average inventory costing method. (Round weighted- average cost per unit to the nearest cent and all other amounts to the nearest dollar.) Begin by determining ending merchandise inventory and cost of goods sold under each of the three methods. Requirement 1. FIFO Plus: Less: Cost of goods sold
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