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GROSS PROFIT METHODS: On May 1, 2009, Bayside Appliances sold a 55inch LED TV for $2700. The set cost them (ihey use FIFO) $1350. The

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GROSS PROFIT METHODS: On May 1, 2009, Bayside Appliances sold a 55inch LED TV for $2700. The set cost them (ihey use FIFO) $1350. The Installment agreement consisted of 10% down payment, and 30 equal monthly payments - with the first payment to begin on June 1, 2009. Compute gross profit to be recognized lor the first two years under each of the methods (a,b,c) we reviewed. If vou show work, and your answer is not correct, you can still cam points. A. INSTALLMENT METHOD: 2009 $____ 2010$ ____ B. POINT-OF-SALE METHOD; 2009 $____ 2010$___ C. COST RECOVERY METHOD: 2009 $____ 2010 $____

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