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Miliary Surplus began Oetober 2021 with 100 stoves that cost $15 each. During the month, the company made the following purchases at cost: (Click the

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Miliary Surplus began Oetober 2021 with 100 stoves that cost $15 each. During the month, the company made the following purchases at cost: (Click the icon to view the purchases.) The company sold 335 stoves, and at Oetober 31 , the ending inventory consisted of 65 stoves. The sales price of each stove was 546. Read the reguicerrents. Requirement 1. Determine the cost of goods sold and ending inventory amounts tor October under the average-cost, FFF, and LiFO costing methoda, Round the averoge cost per unit to two decimal ploces, and round al other amounte to the nearost dollar. Data table 1. Determine the cost of goods sold and ending inventory amounts for October under the average-cost, FIFO, and LIFO costing methods. Round the average cost per unit to two decimal places, and round all other amounts to the nearest 2. Explain why cost of goods sold is highest under LIFO. Be specific. dollar. 3. Prepare the Military Surplus income statement for October. Report gross profit. Operating expenses totaled $5,000. The company uses average costing for inventory. The income tax rate is 36%

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