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Cost flow methods The following three identical units of Item P 4 0 1 C are purchased during April: Assume that one unit is sold
Cost flow methods
The following three identical units of Item PC are purchased during April:
Assume that one unit is sold on April for $
Determine the gross profit for April and ending inventory on April using the a firstin firstout FIFO; b lastin firstout LIFO; and c weighted average cost
method.
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