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Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round average-cost method answers
Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO. (3) Average-cost. (Round average-cost method answers to 2 decimal places, e.g. 1,250.25 and other answers to 0 decimal places, e.g. 1,250. Use weighted-average unit cost rounded to 2 decimal places for computations.)
Problem 6-5A You are provided with the following information for Windsor Inc. for the month ended June 30, 2019. Windsor uses the periodic system for inventory Unit Cost or Selling Price $38 Date June Beginning inventory June 4 Purchase June 10 Sale June 11 Sale return June 18 Purchase June 18 Purchase return June 25 Sale June 28 Purchase Description Quantity 40 136 114 73 73 64 78 31 48Step by Step Solution
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