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During the year, Masks R Us Corporation had the following inventory transactions: table [ [ Date , Transaction,Quantity,,Price per Unit ] , [ 1

During the year, Masks R Us Corporation had the following inventory transactions:
\table[[Date,Transaction,Quantity,,Price per Unit],[1-Jan,Beginning Inventory,35,$,42.00],[7-Apr,Purchase,76,$,44.00],[16-Jul,Purchase,190,$,47.00],[6-Oct,Purchase,44,$,48.00],[,Totals,345,,],[,,,,]]
Prepare a summary entry to record all purchases for the year, assuming all items were purchased on account.
\table[[Date,A,L,SE,R,E,NI,CF,Account],[1,14,386.00,14,386.00,,,,DR,,]]
The company sold the following units during the year.
Quantity
Sales Price
276$60.00
Calculate the Cost of Goods Sold, Ending Inventory, Sales Revenue and Gross Profit under each of the following methods. For Average Cost, round all calculations to 2 decimal places:
Cost of Goods Sold
Ending Inventory
Sales Revenue
Gross Profit
FIFO
LIFO
Average Cost
\table[[$,12,569.00,$,12,890.00,],[$,3,287.00,$,2,966.00,],[$,16,560.00,$,16,560.00,$16,560.00
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