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Cost Flow Methods The following three identical units of Item JC 0 7 are purchased during April: Assume that one unit is sold on April
Cost Flow Methods
The following three identical units of Item JC 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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