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fifo method using the chart ? Exercise 5-7 Perpetual Inventory costing methods FIFO and LIFO Pue Henning Co reported the following current year p hases
fifo method using the chart ?
Exercise 5-7 Perpetual Inventory costing methods FIFO and LIFO Pue Henning Co reported the following current year p hases and sales for its only product Units Sold at Retail 150 units Date Activities Units Acquired at Coat In Beginning inventory200 units SIOS 2.000 la 10 Sales Mar 1 Purchase 350 un 515 5.250 Mar is Sales July 0 Pundide 150 unts $20 = 9.000 Oct Oct 26 Purchase um $25 .900 1.100 $18.750 300 540 430 units $40 80 din Required Henningses a perpetual entory system Denemuine the costs a nd to ending investory and to cost of soods sold using FIFO and (LIFO. Compute the gross margin for each method. (Round amounts to cents. Check Ending investory LIFO 54150 FIFO Date Goods Purchased CGS Inventory Balance (EI) FIFO Gross Margin (Gross Profit)Step by Step Solution
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