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Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company, considering the following transactions under three different cost
Calculate a) cost of goods sold, b) ending inventory, and c) gross margin for A76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for first-in, first-out (FIFO). Number Beginning Inventory Sold Purchased Sold of Units Unit Cost Sales 240 $100 160 $140 520 103 400 142 420 110 Sold 370 144 Ending Inventory 250 Purchased FIFO (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Cost of Inventory Remaining Number Number Number of Units Unit Cost Total Cost of Units Unit Cost Total Cost of Units Unit Cost Total Cost Beginning Sale Purchase Sale Purchase Sale Total Purchases Gross Margin, FIFO perpetual Sales COGS Gross Margin B Total COGS
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