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Green Forest Inc. had the following purchases and sales in October. Calculate the Cost of Goods Sold for the month, Ending inventory balance, and
Green Forest Inc. had the following purchases and sales in October. Calculate the Cost of Goods Sold for the month, Ending inventory balance, and Gross Profit under FIFO, LIFO and Weighted Average. Date Units Cost Total Sales Price Oct 1 Beginning Balance Oct 5 Purchase 25 23 $575 45 29 $1,305 Oct 10 Purchase 90 20 $1,800 Oct 13 Sale 35 $50 Oct 20 Sale 55 $50 Oct 23 Purchase Oct 30 Sale 65 21 40 $1,365 $50 Calculate the Cost of Goods Sold, Ending inventory, and Gross Profit for the month under FIFO, LIFO, and Weighted Average FIFO Cost of Goods Sold $ Ending Inventory S Gross Profit LIFO Cost of Goods Sold $ Ending Inventory Gross Profit Weighted Average. Do not round the unit cost. Do round total costs to the nearest cent on each transaction. Cost of Goods Sold $ Ending Inventory S Gross Profit Points possible: 1 Unlimited attempts. License
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