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Mena Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for April. Date Activities Units Acquired at Cost Units

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Mena Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for April. Date Activities Units Acquired at Cost Units Sold at Retail Apr. 1 Beginning inventory 20 units @ $3,000/unit Apr. 6 Purchase 30 units @ $3,500/unit Apr. 9 Sales 35 units @ $12,000/unit Apr. 17 Purchase 5 units @ $4,500/unit Apr. 25 Purchase 10 units @ $4,580/unit Apr. 30 Sales 25 units @ $14,000/unit Total 65 units 60 units 1 Required a) Calculate amount of ending inventory by using i. FIFO method ii. Weighted Average Method b) Calculate Cost of Goods Sold by using i FIFO method it. Weighted Average Method c) Calculate the amount of Gross Profit by using i FIFO method ii. Weighted Average Method

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