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Dorado expects to purchase 150,000 units of inventory in the fourth quarter of the current calendar year ot a cost of $25 per unit, and

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Dorado expects to purchase 150,000 units of inventory in the fourth quarter of the current calendar year ot a cost of $25 per unit, and to have on hand 40,000 units of inventory at year-end. Dorado uses the last-in, first-out (LIFO) method to account for inventory costs. a. Determine the cost of goods sold and gross profit amounts Dorado should record for the three months ending September 30 . b. Prepare journal entries to reflect these amounts. Complete this question by entering your answers in the tabs below. Determine the cost of goods sold and gross profit amounts Dorado should record for the three months ending September 30

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