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Greenling Company's inventory records for the current year are as follows: $40 Number of Units Cost per Unit 2,200 3,000 $45 3,500 Beginning inventory January

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Greenling Company's inventory records for the current year are as follows: $40 Number of Units Cost per Unit 2,200 3,000 $45 3,500 Beginning inventory January 30 purchase March 31 purchase May 20 Sale October 30 purchase December 24 Sale December 31 purchase 6,000 5,000 6,000 1,000 a) Calculate Cost of Goods Sold (expense) and Ending Inventory S cost using the First-In- First out (FIFO) inventory cost flow assumption. b) Calculate Cost of Goods Sold (expense) and Ending Inventory S cost using the Last-In First out (LIFO) inventory cost flow assumption c) Calculate Cost of Goods Sold (expense) and Ending Inventory $ cost using the Weighted Average inventory cost flow assumption (round to the nearest $l). d) Which inventory cost flow assumption (FIFO, LIFO or Weighted Average) would give Greenling the lowest reported Gross Profit? Use your calculations above to explain why

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