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Assume that Star Coffee Shop completed the following periodic inventory transactions for a line of merchandise inventory: Click the icon to view the transactions.) Read

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Assume that Star Coffee Shop completed the following periodic inventory transactions for a line of merchandise inventory: 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 cant 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. Requirement 2. Requirement 3. Weighted-Average FIFO LIFO Plus: Less: Cost of goods sold Now compute the gross profit under each inventory costing method. Requirement 1. Requirement 2. FIFO LIFO Sales Revenue Requirement 3. Weighted-Average Choose from any list or enter any number in the input fields and then continue to the next question Now compute the gross profit under each inventory costing method. Requirement 1. Requirement 2. Requirement 3. Weighted Average FIFO LIFO Sales Revenue Cost of Goods Sold Gross Profit Jun. 1 Beginning merchandise inventory Jun. 12 Purchase Jun. 20 Sale 15 units @ $18 each 8 units @ $22 each 9 units @ $32 each 11 units @ $24 each 17 units @ $32 each Jun. 24 Purchase Jun. 29 Sale Print Done

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