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Q4. Suppose Greg's Tunes has the following inventory records for July 2013: Operating expense for July was $1,000. Unit Cost $ Unit Price $ 10
Q4. Suppose Greg's Tunes has the following inventory records for July 2013: Operating expense for July was $1,000. Unit Cost $ Unit Price $ 10 15 Date Jul 1 Jul 5 Julio Jul 15 Jul 21 Jul 30 Item Beginning inventory Sale Purchase Sale Purchase Sale Quantity (units) 100 50 60 70 100 90 12 20 14 25 Requirement: Prepare the July income statement and show amounts for FIFO, LIFO, and average cost. Show your computations using periodic inventory
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