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COMPUTE GROSS PROFIT USING PERIODIC SYSTEM Blossom Company sells one product. Presented below is information for January for Blossom Company. Jan. 1 4 11 Inventory

COMPUTE GROSS PROFIT USING PERIODIC SYSTEM

Blossom Company sells one product. Presented below is information for January for Blossom Company. Jan. 1 4 11 Inventory Sale Purchase Sale Purchase Sale 123 units at $5 each 98 units at $8 each 136 units at S6 each 103 units at $9 each 169 units at $7 each 108 units at $11 each 13 20 27 Blossom uses the FIFO cost flow assumption. All purchases and sales are on account

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