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Remove the Sales Returns and Purchase Returns and determine CGAS, EI, CGS using the Periodic FIFO, Periodic LIFO and Periodic Average Cost P6-5A You are
Remove the Sales Returns and Purchase Returns and determine CGAS, EI, CGS using the Periodic FIFO, Periodic LIFO and Periodic Average Cost
P6-5A You are provided with the following information for Koetteritz Inc. for the month ended June 30, 2017. Koetteritz uses the periodic method for inventory. Date June 1 June 4 June 10 June 11 June 18 June 18 June 25 June 28 Unit Cost or Selling Price $40 43 70 70 46 46 76 50 Description Quantity 40 135 110 Beginning inventory Purchase Sale Sale return Purchase Purchase return Sale Purchase 10 65 35Step by Step Solution
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