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Clayton Company shows the following transactions for its major inventory item. Required Compute ending inventory, cost of goods sold, and gross profit using: a. Average
Clayton Company shows the following transactions for its major inventory item. Required Compute ending inventory, cost of goods sold, and gross profit using: a. Average Cost (periodic inventory system). -Note: Use the result EXACTLY as displayed above in the calculations below. -Note: Do not use negative signs with any of your answers. \begin{tabular}{|l|ll|} \hline Cost of goods available for sale & $ & 0x \\ \hline Ending Inventory & & 0x \\ \hline Cost of goods sold & $ & 0x \\ \hline \end{tabular}
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