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FINISH QUEZ Units Beginning inventory 200 Purchase 1 80 Purchase 2 120 Purchase 3 Purchase 4 180 Q Zoom Cost $ 2 4 6 9

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FINISH QUEZ Units Beginning inventory 200 Purchase 1 80 Purchase 2 120 Purchase 3 Purchase 4 180 Q Zoom Cost $ 2 4 6 9 12 Periodic and Perpetual Systems and Inventory Costing Methods During July 2014, Micanopy Inc., sold 500 units of its product Empire for $8,000. See the ATTACHED table for the available units. 300 A sale of 500 units was made after purchase 3 of the units sold, 200 came from beginning inventory and 300 came from purchase 3. REQUIRED: Determine cost of goods available for sale and ending inventory in units. Then determine the costs that should be assigned to cost of goods sold and ending inventory under each of the following assumptions: (1) Costs are assigned under the PERIODIC Inventory system using (a) the specific Identification method, (b) the average-cost method, (c) the FIFO method, and (d) the LIFO method For each alternative, also show the gross profit

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