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Fill in the blanks and answer all the questions. 4 The following is from the records of Big Corp. which uses the perpetual method. A
Fill in the blanks and answer all the questions. The following is from the records of Big Corp. which uses the perpetual method.
A Calculate the total dollar amount for goods available for the month of May:
B Determine the number of units in the ending inventory at May
C Determine the total sales for the month
D Calculate the dollar amounts of ending inventory and cost of goods sold and gross profit using the
FIFO METHOD.
Cost of Goods Sold
Gross Profit
E Calculate the dollar amounts of ending inventory and cost of goods sold and gross profit using the
LIFO METHOD.
Cost of Goods Sold
Gross Profit
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