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please help with these two questions Grays Company has inventory of 19 units at a cost of $7 each on August 1. On August 3,

please help with these two questions

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Grays Company has inventory of 19 units at a cost of $7 each on August 1. On August 3, it purchased 29 units at $9 each. 21 units are sold on August 6. Using the FIFO perpetual inventory method, what amount will be reported as cost of goods sold for the 21 units that were sold? Multiple Choice O $399. O $151. O $155 O $157. O $128 Hull Company reported the following income statement information for the current year: Sales $419 , 000 Cost of goods sold: Beginning inventory $145, 500 Cost of goods purchased 282 , 000 Cost of goods available for sale 427 , 500 Ending inventory 153 , 000 Cost of goods sold 274, 500 Gross profit $144, 500 The beginning inventory balance is correct. However, the ending inventory figure was overstated by $29,000. Given this information, the correct gross profit would be

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