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Calculate sales revenue and gross profit under each of the four methods. Show math and formulas used Pete's Tennis Shop has the following transactions related
Calculate sales revenue and gross profit under each of the four methods.
Show math and formulas used
Pete's Tennis Shop has the following transactions related to its top-selling Wilson tennis racket for the month of August. Pete's Tennis Shop uses a periodic inventory system For the specific identification method, the August 4 sale consists of rackets from beginning inventory, the August 13 sale consists of rackets from the August 11 purchase, and the August 26 sale consists of one racket from beginning inventory and 10 rackets from the August 20 purchase Calculate sales revenue and gross profit under each of the four methods (Round weighted-average cost amounts to 2 decimal places.)Step by Step Solution
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