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n Assume that Durk Coffee Shop completed the following periadic irventory transactions for a line of merchandise invenlory: (1) (Cick the icon to view the
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Assume that Durk Coffee Shop completed the following periadic irventory transactions for a line of merchandise invenlory: (1) (Cick the icon to view the transactions.) Flead the requitements Pequirements 1.,2, and 3. Compute ending meechandise invertory, cost of goods sold, and gross proff using the (1) FiFO inventory ocsting meked, (2) LF O invmery costry ruthod, ond a) Begin by determining ending merchandise inventory and cost of goods sold under each of the tree methots. More info nop completed the following periodic inventory transactions for a line of merchandise inv e transactions.) Requirements 1. Compute ending merchandise inventory, cost of goods sold, and gross profit using the FIFO inventory costing mathod. 2. Compute ending merchandise inventory, cost of goods sold, and gross profit using the LIFO inventory costing method. 3. Compute ending merchandise inventory, cost of goods sold, and gross profit using the weighted-average inventory costing method. (Round weightedaverage cost per unit to the nearest cent and all other amounts to the nearest dollar.) Step by Step Solution
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