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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 last-in, first-out (LIFO). Beginning inventory Number of Units Unit Cost Sales 250 $100 Sold 160 $140 Purchased 500 103 Sold 400 142 Purchased 420 110 Sold 370 174 Ending inventory 240 Cost of Goods Purchased LIFO (perpetual) Inventory Cost of Goods Sold Number of Units Unit Cost Total Cost Number of Units Number Cost of Inventory Re Unit Cost Total Cost of Units Unit Cost Beginning Sale Purchase 500 160 140 X x x Sale Purchase Check My Work 420 150 X 63,000 x 400 x x x x
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