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Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. Please explain each step (1) LIFO. (2) FIFO. (3) Average-cost.
Calculate ending inventory, cost of goods sold, gross profit under each of the following methods. Please explain each step
(1) LIFO. (2) FIFO. (3) Average-cost.
You have the following information for Windsor, Inc. for the month ended October 31, 2017. Windsor, Inc. uses a periodic meth for inventory. Date Units 56 122 90 Unit Cost or Selling Price $23 25 34 Oct. 1 Oct. 9 Oct. 11 Oct. 17 Oct. 22 Oct. 25 Oct. 29 Description Beginning inventory Purchase Sale Purchase Sale Purchase Sale 108 55 67 26 39 28 39 113Step by Step Solution
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