Question
During July 2007 a Company sold 500 units of products for $8,000. The following data is available: Units Cost Beginning Inventory 200 $2 Purchase 1
During July 2007 a Company sold 500 units of products for $8,000. The following data is available:
Units Cost
Beginning Inventory 200 $2
Purchase 1 80 4
Purchase 2 120 6
Purchase 3 300 9
Purchase 4 180 12
A sale of 500 units was made after Purchase 3
Determine:
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Cost of goods available for sale and ending inventory in units.
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the costs that should be assigned to cost of goods sold and ending inventory under the Perpetual Inventory System;
Use: the average-cost; FIFO inventory costing method; LIFO inventory costing method
Show: the gross margin for each alternative
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