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D. Data from Aylesworth Inc. for the month ended October 31, 2012 is as follows: Unit Cost or 3/5 Units Selling Price Date Description October

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D. Data from Aylesworth Inc. for the month ended October 31, 2012 is as follows: Unit Cost or 3/5 Units Selling Price Date Description October 1 Beginning inventory Purchase 120 October 9 Sale October 11 October 17 Purchase 27 Sale October 22 Purchase October 25 Sale October 29 110 Aylesworth uses the periodic method for inventory. Tab 9 1. Enter the purchase data necessary to Goods Available for Sale section of the worksheet. 2. Enter the appropriate amounts to calculate Ending Inventory, Cost of Goods Sold (COGS), Gross Profit, and Gross Profit Rates under each of the assumed cost flow methods (FIFO, LIF0, and Average). 3. Determine and enter in cells G62 and G65 which cost flow method results in: 3.1. the highest Gross Profit (Cell G62). 3.2. the highest Gross Profit Rate (Cell G65)

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