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Mojo Industries tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each

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Mojo Industries tracks the number of units purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period, as if it uses a periodic inventory system. Assume its acoounting records provided the following information at the end of the accounting period, January 31. The inventory's selling prioe is $9 per unit. Unit CostUnits 260 (200) 310 (150) Total Cost Inventory, January 1 Sale, January 10 Purchase, January 12 Sale, January 17 Purchase, January 26 S2.50 3.00 4.00 $650 930 220 Assuming that for Spocific identification mothod (itom 1d) the January 10 salo was from the boginning inventory and the January 17 sale was from the January 12 purchase 1. Compute the amount of goods available for sale, ending inventory, and cost of goods sold at January 31 under each of the following inventory costing methods: (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.) Amount of Goods Available for Sale Cost of Goods Sold Ending Inventory 1,008 S 1.150 a.Weighted average costS b. First-in, first-out c. Last-in, first-out d Specific identification 1,800 $ 1,800$ 1,800 1,800 1,026 2-a. Of the four methods, which will result in the highest gross profit? Weighted average cost O First-in, first-out O Last-in, first-out 2-b. Of the four methods, which will result in the lowest income taxes? Weighted average cost O Type here to search 138 PM 11/21/2018

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