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how would I solve requirment 1 Requirements 1. Calculate the store's gross profit under both FIFO and LIFO at October 31. 2. What caused the
how would I solve requirment 1
Requirements 1. Calculate the store's gross profit under both FIFO and LIFO at October 31. 2. What caused the FIFO and LIFO gross profit figures to differ? Print Done Suppose a Robak store in Dearborne, Missouri, ended September 2018 with 1,200,000 units of merchandise that cost $8 each. Suppose the store then sold 100,000 units for $910,000 during October. Further, assume the store made two large purchases during October as follows: Click the icon to view the purchase information) Read the requirements Requirement 1. Calculate the store's gross profit under both FIFO and LIFO at October 31 FIFO LIFO Gross profit information.) ..... gross profit under both FIFO and LIFO at October 31. Data Table Oct 12 = 25,000 units @ $6.10 40,000 units @ $5.20 = $ $ 152,500 208,000 21 Print Done Step by Step Solution
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