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Carter Ltd. is a retailer operating company. All sales return from customer result in the goods being returned to inventory; the inventory is not damaged.

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Carter Ltd. is a retailer operating company. All sales return from customer result in the goods being returned to inventory; the inventory is not damaged. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for carter Ltd. for month of January 2023 Instruction: 1. Under the FIFO, and Average cost flow assumptions, Under Perpetual and Periodic Inventory System, calculate: a. Cost of Goods Sold b. Ending Inventory c. Gross Profit

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