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Pemberton Company began March with 4 0 units of inventory that cost a total of $ 8 0 0 . During March, Pemberton purchased and
Pemberton Company began March with units of inventory that cost a total of $ During March, Pemberton purchased and sold goods as follows:
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Calculate the gross margin amount using the FIFO method assuming Pembertonuses a periodic inventory system.
Before we can calculate gross margin, we must first determin
tableBeginning inventoryEnding inventory
Cost of goods available for sale
Less:
Cost of goods sold
Now we are able to determine gross margin, under the FIFC
Cost of goods available for sale Cost of goods sold
Gross margin
March
More info
by determinin More info
tableMarchPurchase: units at $
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