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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). Note: For negative amounts, input value beginning with a minus sign Beginning Inventory Sold Purchased Number of Units Unit Cost Sales 240 $120 1601 $160 510 123 Sold 400 162 Purchased 400 130 Sold 370 164 Ending Inventory 220 Cost of Goods Purchased FIFO (perpetual). Inventory Cost of Goods Sold Cost of Inventory F Number Number Number of Units Unit Cost Total Cost of Units Unit Cost Total Cost of Units Unit Cost Beginning 240 V 120 Sale 160 120 V 19,200 80 120 Purchase 510 123 62,730 80 120 510 123 Sale 400 x 162 X x 400 X 123 V 44,200 x x
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