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Find ending inventor, cost of goods sold, and gross profit using LIFO and FIFO You are provided with the following information for Cullumber Inc. for
Find ending inventor, cost of goods sold, and gross profit using LIFO and FIFO
You are provided with the following information for Cullumber Inc. for the month ended June 30, 2020. Cullumber uses the periodic method for inventory. Unit Cost or Quantity Selling Price 38 $38 135 42 105 Date Description June 1 Beginning inventory June 4 Purchase June 10 Sale June 11 Sale return June 18 Purchase June 18 Purchase return June 25 Sale June 28 Purchase 12 67 52 44 44 62 72 25 48 LIFO FIFO $ 4342 The ending inventory The cost of goods sold Gross profitStep by Step Solution
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