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Please answer this. thank you Burlington Wholesale Inc. had the following inventory transactions for one month. The company uses a perpetual system and FIFO. All
Please answer this. thank you
Burlington Wholesale Inc. had the following inventory transactions for one month. The company uses a perpetual system and FIFO. All purchases and sales are on account. 40 # of unit cost or items sale price January 1 Opening balance $20 January 5 Purchase 20 $22 Purchase January 7 of January 5 -5 items returned January 10 Sale 50 $40 January 12 Purchase 25 $24 January 17 Sale 20 $50 January 24 Purchase 35 $25 Use an inventory cost chart and an accounting chart to analyze the above transactions, and then answer the questions below. What amount of cost of goods sold will be recorded on January 10? A Question 49 (1 point) What is the value of the inventory after the January 10 transaction? A Question 50 (1 point) What is the gross profit percentage on the January 10 sale? A/ Question 51 (1 point) What is the amount of gross profit on the January 10 sale? A Question 52 (1 point) What is the value of the inventory after the January 12 transaction Step by Step Solution
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