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D E F 1 The following information pertains to Harrison Company for 2013 Beginning inventory Units purchased 70 units$ 15.00 250 units18.00 6 Ending inventory
D E F 1 The following information pertains to Harrison Company for 2013 Beginning inventory Units purchased 70 units$ 15.00 250 units18.00 6 Ending inventory consisted of 30 units. Harrison sold 300 units at $35 each. All purchases and sales 7 were made with cash. 9 Required: 10 a. Compute the Cost of Goods Sold for Harrison Company using the following cost flow 11 assumptions: (1) FIFO, (2) LIFO, and (3) weighted average. (Round cost per unit to 2 decimal places 12 and your final answers to the nearest whole dollar amount.) 13 Cost of Goods Sold 15 FIFO LIFO Weighted average 17 19b. Compute the gross margin for Harrison Company using the following cost flow assumptions: (1) 20 FIFO, (2) LIFO, and (3) weighted average. (Round cost per unit to 2 decimal places and your final 21 answers to the nearest whole dollar amount.) Gross Margin 23 24 25 26 FIFO LIFO Weighted average 28
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