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Problem #1 Bobby Wino & Company reported the following December 2020 transactions pertaining to a 6202 bottle of Retro Cream, one of the company's many
Problem #1 Bobby Wino & Company reported the following December 2020 transactions pertaining to a 6202 bottle of Retro Cream, one of the company's many inventory items: Units 8 Unit Cost 23.00 1-Jan 00 $ $ 2-Jan 2. 2. 5-Jan 20 $ 25.00 7-Jan 18 Beg. Inventory Sale Purchase Sale Purchase Sale Purchase Sale 22 $ 26.50 10-Jan 15-Jan 6 10 $ 27.50 20-Jan 25-Jan 14 11 Ending Inventory Value using LIFO PERPETUAL 12 Cost of goods sold using LIFO PERPETUAL 13 Gross Profit if all bottles of Retro Cream are sold at $45 per bottle and LIFO PERPETUAL is used
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