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Green Co. sells one product purchased from various suppliers, Green records and reports inventory using the LIFO periodic method. It records cash discounts using the

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Green Co. sells one product purchased from various suppliers, Green records and reports inventory using the LIFO periodic method. It records cash discounts using the gross method. At the end of Year 20X6, Green estimated the following per unit amounts: Replacement cost $10.00 Net realizable value (NRV) 10.80 Normal profit margin 1.00 Historical cost - beginning inventory on 1/1/20X6 10.20 Green reports losses from write-downs of inventory to market directly in cost of goods sold. The inventory on January 1, 20X6, consisted of 8,000 units. The financial accounting department is doing a cost of goods sold analysis based on a partial trial balance and the available inventory purchase receipts. Determine the amount for each item in the cost of goods sold calculation at December 31, Year 20X5. Enter the appropriate amounts in the designated cells below. Enter all amounts as positive numbers Item Cost 123 1. Beginning inventory 123 2. Purchases 3. Purchase discounts 122 4. Freight-in 123 5. Goods le for sale 123 6. Ending inventory 120 7. Cost of goods sold

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