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Periodic and Perpetual Systems - Compute Inventory, Cost of Sales, and Gross Profit Using Average Cost, Moving Average, FIFO, and LIFO Clayton Company shows the
Periodic and Perpetual SystemsCompute Inventory, Cost of Sales, and Gross Profit Using Average Cost, Moving Average, FIFO, and
LIFO
Clayton Company shows the following transactions for its major inventory item.
Required
Compute ending inventory, cost of goods sold, and gross profit using:
d Moving Average perpetual inventory system
Note: Enter the answers for unit cost in dollars and cents, rounded to the nearest penny. Use the rounded amounts for later calculations.
Note: Do not use negative signs with any of your answers.
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