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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 allocation
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).
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 (LIF Number of Units Unit Cost Sales Beginning inventory 260 $140 Sold 160 $180 Purchased 510 143 Sold 400 182 380 150 Purchased Sold 370 214 Ending inventory 220 LIFO (perpetual) Inventory Cost of Goods Purchased Cost of Goods Sold Number of Units Number of Units Cost of Inventory Remaining Number of Units Unit Cost Total Cost Unit Cost Total Cost Unit Cost Total Cost Beginning Sale 160 Purchase 510 143 Sale 400 Purchase 380 150 Sale O Total Purchases Total COGS Gross Margin, LIFO perpetual Sales COGSStep by Step Solution
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