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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 following transactions

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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 following transactions for its major inventory item. Required Compute ending inventory, cost of goods sold, and gross profit using: a. Average Cost (periodic inventory system). - Note: Use the result EXACTLY as displayed above in the calculations below. - Note: Do not use negative signs with any of your answers. b. FIFO (periodic inventory system). - Note: Do not use negative signs with any of your answers. c. LIFO (periodic inventory system). - Note: Do not use negative signs with any of your answers. d. Moving Average (perpetual inventory system). - Note: Enter the answers for unit cost in dallars 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. e. FIFO (perpetual inventory system). - Note: Do not use negative signs with any of your answers. - Note: List the inventory units in chronological order based on their purchase date with beginning inventory, if any, listed first. e. FIFO (perpetual inventory system). - Note: Do not use negative signs with any of your answers. - Note: List the inventory units in chronological order based on their purchase date with beginning inventory, if any, listed first. f. LIFO (perpetual inventory system). - Note: Do not use negative signs with any of your answers. - Note: List the inventory units in chronological order based on their purchase date with beginning inventory, if any, listed first. Periodic Inventory System Perpetual Inventory System Gross Protit Check

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