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MCB Ltd . uses a perpetual inventory system and reports the following transactions for the month of January: Required: ( 1 ) Under the FIFO

MCB Ltd. uses a perpetual inventory system and reports the following transactions for
the month of January:
Required:
(1) Under the FIFO Cost-flow method, (2) Under the LIFO Cost-flow method, and (3)
Under the Weighted Average Cost-flow method;
a. Journalize the transactions and prepare the ledger accounts (T-accounts)
b. Calculate Gross Profit
c. Calculate Gross Profit Margin
d. Calculate the Cost of Ending Inventory
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