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please do all of the requirements Steol Mir began August whan 50 unts of iron imventory that cosi $35 each During August the company conpleted
please do all of the requirements
Steol Mir began August whan 50 unts of iron imventory that cosi $35 each During August the company conpleted the fotowhg ieventory transactons (Cick the icon to vew the transacions) Reed the cequrenots Requirement 1. Precare a pepetuid invertary tecord tor the merchandse invertory using the FIFO imenlary contng method 1 total cost of merchandise inventory purchased, sold, and on hand at the end of the period. (Enter the oldest Data table al inventory record for the merchandise inventory using the FIFO inventory costing method. Requirements 1. Prepare a perpetual inventory record for the merchandise inventory using the FIFO inventory costing method. 2. Prepare a perpetual inventory record for the merchandise inventory using the LIFO inventory costing method. 3. Prepare a perpetual inventory record for the merchandise inventory using the weighted-average inventory costing method. 4. Determine the company's cost of goods sold for August using FIFO, LIFO, and weighted-average inventory costing methods. 5. Compute gross profit for August using FIFO, LIFO, and weighted-average inventory costing methods. 6. If the business wanted to maximize gross profit, which method would it select Step by Step Solution
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