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Howe Incorporated uses the periodic inventory system. The following table shows beginning inventory and inventory purchases for 2013: Cost per Units Totals unit Beginning
Howe Incorporated uses the periodic inventory system. The following table shows beginning inventory and inventory purchases for 2013: Cost per Units Totals unit Beginning Inventory 4,880 $18 87,840 March 5 2,928 $22 64,416 June 21 2,635 $24 63,240 October 12 4,392 $25 109,800 Howe Incorporated sold 8,203 units for $40 each. Required: Eill in the following table with amounts for Cost of Goods Sold for 2013 based on the FIFO, LIFO, and weighted-average inventory valuation methods. You may round your final answer to the nearest dollar. FIFO 161736 Cost of Goods Sold ($) LIFO 198912 Weighted-Average 179,072 Required: Fill in the following table with amounts for Gross Profit (= Sales minus COGS) and Ending Inventory for 2013 based on the FIFO, LIFO, and weighted average inventory valuation methods. You may round your final answer to the nearest dollar. FIFO 166,384) LIFO 129,208 Weighted-Average 148,248 Gross Profit (S) 163.560 126,384 145,424 Ending Inventory ($)
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