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Please help me with this question The following are the transactions for the month of July. Unit Unit Units cost Selling Price July 1 Beginning
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The following are the transactions for the month of July. Unit Unit Units cost Selling Price July 1 Beginning Inventory 58 $10 July 13 Purchase 290 11 July 25 Sold (100) 14 July 31 Ending Inventory 248 Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under (a) FIFO, (b) LIFO, and (c) weighted average cost. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.) (a) FIFo FIFO (Periodic) Cost per otal Units Unit Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold Units from July 13 Purchase Units from Beginning Inventory Total Cost of Goods Sold Ending Inventory FIFO (Periodic) Sales Cost of Goods Sold Gross ProfitStep by Step Solution
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