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Please show work. thanks! Use the following to answer questions 25-27: Sales Transactions for the month of June were: Purchases June 1 (balance) 1,600 @
Please show work. thanks!
Use the following to answer questions 25-27: Sales Transactions for the month of June were: Purchases June 1 (balance) 1,600 @ $2 3 4,400 @ 3 7 2,400 @ 4 15 3,600 @6 June 2 6 9 1,200 a $10 2,200 @ 10 3,000 @ 10 25. Assuming that perpetual inventory records are kept, the gross profit on a FIFO basis is 26. Assuming that perpetual inventory records are kept, the ending inventory on a LIFO basis is $ 27. Assuming that periodic inventory records are kept, the cost of goods sold on a LIFO basis is $Step by Step Solution
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