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Problem 6-5A You have the following information for Kingbird, Inc. for the month ended October 31, 2017. Kingbird, Inc. uses a periodic method for inventory.
Problem 6-5A You have the following information for Kingbird, Inc. for the month ended October 31, 2017. Kingbird, Inc. uses a periodic method for inventory.
You have the following information for Kingbird, Inc. for the month ended October 31,2017. Kingbird, Inc. uses a periodic method for inventory Date Units Unit Cost or Selling Price Oct. 1 Oct.9 Oct. 11 Oct. 17 Oct. 22 Oct. 25 Oct. 29 63 124 93 94 60 65 103 $23 25 37 26 28 Calculate ending inventory,cost of goods sold, gross profit under each of the following methods. (1) LIFO. (2) FIFO (3) Average-cost.(Round answers to O decimal place,eg. 125) LIFO FIFO AVERAGE-COST The ending inventory The cost of goods sold Gross proft eTextbook and Media List of Accounts Calculate gross profit rate under each of the following methods (1) LIFO. (2) FIFO. (3) Average-cost. (Round answers to 1 decima, place, eg 51.2%) LIFO FIFO AVERAGE-COST Gross profit rate eTextbook and Media List of AccountsStep by Step Solution
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