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Evansville Company had the following transactions for the month, Number of Units Cost per Unit Purchase 3 $5,000 Purchase 4 6,000 Purchase 5 6,500 Calculate
Evansville Company had the following transactions for the month, Number of Units Cost per Unit Purchase 3 $5,000 Purchase 4 6,000 Purchase 5 6,500 Calculate the gross margin for each of the following cost allocation methods, assuming Evansville sold just one unit of these goods for $10,000. Round your intermediate calculations and final answers to the nearest dollar amount. Gross Margin A. First-in, First-out (FIFO) B. Last-in, First-out (LIFO) C. Weighted Average (AVG) When prices are rising (inflation), which costing method would produce the highest value for gross margin
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