[Solved] Determine: Gross profit Operating income

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Determine: Gross profit Operating income Income before tax Net income Purchases Gross profit ratio ( two decimal places ) % The company has 1 0

Determine:

Gross profit

Operating income

Income before tax

Net income

Purchases

Gross profit ratio

(

two decimal places

)

%

The company has

10

units remaining on December

31

Determine ending inventory using FIFO:

Determine ending inventory using LIFO:

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