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Please help me getting the right answer key by using the right excel formula? Dublin Corporation provides the following information related to its inventory during
Please help me getting the right answer key by using the right excel formula?
Dublin Corporation provides the following information related to its inventory during the month of October: October I October 9 October 12 October 18 October 24 October 31 Required: Inventory on units; cost $6.00 each. Sold 2,4aa units for $1e.oo each. Purchased 1,200 units for $6. 3e each. Sold I,aa units for $1e.20 each. Purchased 1,400 units for $7.2e each. Inventory on hand Using calculations based on a PERPETUAL inventory system, determine the inventory balance Dublin would report in its October 31 balance sheet and the cost of goods sold it would report in its October income statement using each of the following cost flow methods. 1. Determine the cost assigned to ending inventory and to cost of goods sold using the FIFO method 2 Determine the cost assigned to ending inventory and to cost of goods sold using the LIFO method. 3 Compute the amount of gross profit under the two methods. Navigation: 1. Use the Open Excel in New Tab button to launch this question. 2. When finished in Excel, use the Save and Return to Assignment button in the lower right to return to Connect.
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