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Assuming the company uses FIFO and a periodic inventory system, fill in the following blanks using the following information: Purchases Cost of Goods Sold Date

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Assuming the company uses FIFO and a periodic inventory system, fill in the following blanks using the following information: Purchases Cost of Goods Sold Date Units Cost Total Units Unit Selling Price Feb. 1 6,000 $17 $102,000 Feb 10 17,000 $19 $323,000 Feb 28 22,000 $25 Amount Sales Blank #1 Cost of Goods Sold Blank #2 Gross Profit Blank #3 Operating Expenses Blank #4 Income before income tax $32,000 Income Tax Expense (30%) Blank #5 Net Income Blank #6 Blank # 1 22000 Blank # 2 406000 Blank # 3 Blank # 4 Blank # 5 Blank # 6

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