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Average cost only part needed Your answer is partially correct. Try again. Calculate (i) ending inventory, () cost of goods sold, (i) gross profit, and
Average cost only part needed
Your answer is partially correct. Try again. Calculate (i) ending inventory, () cost of goods sold, (i) gross profit, and (iv) gross profit rate under each of the following methods: LIFO, FIFO, and average cost. (Round average cost per unit to 3 decimal places, e.g. 2.225 and average-cost answers to 2 decimal places, eg. 5,275.05. Round gross profit rate to 2 decimal places, eg. 25.22%. Round all other answers to O decimal places, e.g. 2,525. FIFO Average Cost Ending inventory Cost of goods sold Gross profit 2385 2487 4317 4215 3733 3855 Gross profit rate 46.371 % 47.64 %Step by Step Solution
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