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Cullumber Novelty had a beginning inventory balance on July 1 of 360 units at a cost of $3.10 each. During the month, the following inventory
Cullumber Novelty had a beginning inventory balance on July 1 of 360 units at a cost of $3.10 each. During the month, the following inventory transactions took place: Assume Cullumber uses FIFO perpetual. Calculate the cost of ending inventory, cost of goods sold, and gross profit. Ending inventory Cost of goods sold Gross profit
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