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Need help computing LIFO and Average cost Requirements 1, 2, and 3. Compute cost of goods sold and gross profit using FIFO, LIFO, and average
Need help computing LIFO and Average cost
Requirements 1, 2, and 3. Compute cost of goods sold and gross profit using FIFO, LIFO, and average cost methods. (Round the average cost per unit to the nearest cent and all other amounts to the nearest dollar.) FIFO LIFO 9,632 Sales revenue 5,615 Cost of goods sold $ Gross profit 4,017 38 tires @ $ Beginning inventory 130 16 tires @$ Purchase.. 135 43 tires @ $ Sale... 224Step by Step Solution
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