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Clayton Company shows the following transactions, in the order given, for its major inventory item. Date Units Unit Cost $6.90 7.20 7.50 Nov. 1 Nov.
Clayton Company shows the following transactions, in the order given, for its major inventory item. Date Units Unit Cost $6.90 7.20 7.50 Nov. 1 Nov. 3 Nov. 5 Nov. 13 Nov. 20 Nov. 22 Nov. 28 Nov. 30 Inventory. Purchase Sales (at $15) Purchase Sales (at $15). Purchase Sales (at $18) Purchase 3,000 6,000 4,000 5,000 9,000 11,000 9,000 6,000 7.66 7.80 Required Compute ending inventory, cost of goods sold, and gross margin using the following: a. Average Cost (periodic inventory system). b. FIFO (periodic inventory system). LIFO (periodic inventory system). d. Moving Average (perpetual inventory system). e. FIFO (perpetual inventory system). f. LIFO (perpetual inventory system). C
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