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Please answer all parts of the question to be rated: ) 5) Date Description Quantity 1/15/21 Purchased 4 Items @ $120 per item 2/15/21 Purchased
Please answer all parts of the question to be rated:
) 5) Date Description Quantity 1/15/21 Purchased 4 Items @ $120 per item 2/15/21 Purchased 5 items @ $125 per item 4/17/21 Purchased 10 items @ $130 per item 7/6/21 Sold 5 items 8/5/21 Purchased 8 items @ $150 10/07/21 Sold 8 items 11/23/21 Purchased 9 items @ $175 12/24/21 Sold 9 items (a) Calculate both the ending inventory and the COGS using the FIFO method. Ending Inventory COGS (b) Assume sales are $10,000, what is the net income for yearStep by Step Solution
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