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Cullumber Company sells leather saddles and equipment for horse enthusiasts. Cullumber uses the perpetual inventory system. The following schedule relates to the company's inventory for

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Cullumber Company sells leather saddles and equipment for horse enthusiasts. Cullumber uses the perpetual inventory system. The following schedule relates to the company's inventory for the month of May: (a1) Calculate Cullumber Company's cost of goods sold, gross margin, and ending inventory using FIFO. Cost of goods sold Gross margin Ending inventory

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