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Question #2 (a, b, c) The following are the transactions for the month of July. Calculate cost of goods available for sale and ending inventory,
Question #2 (a, b, c)
The following are the transactions for the month of July. Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under (a) FIFO, (b) LIFO, and (c) weighted average cost. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.)Step by Step Solution
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