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PLEASE SOLVE ASAP THANK YOU Mojo industries tracks the number of urits purchased and sold throughout each accounting period but applies its inventory costing method
PLEASE SOLVE ASAP THANK YOU
Mojo industries tracks the number of urits purchased and sold throughout each accounting period but applies its inventory costing method at the end of each period, os if it uses a periodic inventory system. Assume its accounting records provided the following information at the end of the accounting period, January 31 . The inventory's selling price is $9 per unit. Required: 1. Compute the amount of goods avalable for sale, ending inventory, and cost of goods sold at January 31 under each of the following inventory costing methods: a. Weighted average cost. b. First-in, first-out. c. Last-in, first-out. d. Specific identification, assuming that the January 10 sale was from the beginning inventory and the January 17 sale was from the January 12 purchase. 2-a. Or the four methods, which will result in the highest gross proft? 2-b. Or the four methods, which will result in the lowest income toxes? Complete this question by entering your answers in the tabs below. Compute the amount of goods ovailable for sale, ending inventory, and cost of goods sold at January 31 under each of the inventory costing methods. (Round your intermediate calculations to 2 decimal places and final answers to the neorost dollar amount Step by Step Solution
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