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Paula's Parkas sells NorthPlace jackets. At the beginning of the year, Paula's had 20 jackets in stock, each costing $35 and selling for $60. The

Paula's Parkas sells NorthPlace jackets. At the beginning of the year, Paula's had 20 jackets in stock, each costing $35 and selling for $60. The following table details the purchases and sales made during January:

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Assume that Paula's Parkas uses the perpetual FIFO method to maintain its inventory records.

  • Determine Paula's Parkas cost of goods sold and ending inventory for January.
  • Determine Parka's gross profit for January.

Assume the same facts except that Paula's Parkas uses the perpetual LIFO method.

  • Determine Paula's Parkas cost of goods sold and ending inventory for January.
  • Determine Parka's gross profit for January.

Assume the same facts as in problem 6 above except that Paula's Parkas uses the moving average method.

  • Determine Paula's Parkas cost of goods sold and ending inventory for January.
  • Determine Parka's gross profit for January.
Paula's Parkas sells NorthPlace jackets. At the beginning of the year, Paula's had 20 jackets in stock, each costing $35 and selling for $60. The following table details the purchases and sales made during January: Assume that Paula's Parkas uses the perpetual FIFO method to maintain its inventory records. Determine Paula's Parkas cost of goods sold and ending inventory for January. Determine Parka's gross profit for January.Assume the same facts except that Paula's Parkas uses the perpetual LIFO method. Determine Paula's Parkas cost of goods sold and ending inventory for January. Determine Parka's gross profit for January.Assume the same facts as in problem 6 above except that Paula's Parkas uses the moving average method. Determine Paula's Parkas cost of goods sold and ending inventory for January. Determine Parka's gross profit for January

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