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Required: 1. Compute cost of goods avallable for sale and the number of unlts avallable for sale. 2. Compute the number of units In ending
Required: 1. Compute cost of goods avallable for sale and the number of unlts avallable for sale. 2. Compute the number of units In ending inventory. 3. Compute the cost assigned to ending Inventory using (a) FIFO, (b) LIFO, (c) welghted average, and (d) specific Identlfication. (For specific Identlfication, units sold consist of 620 unlts from beginning Inventory, 210 from the February 10 purchase, 120 from the March 13 purchase, 140 from the August 21 purchase, and 390 from the September 5 purchase.) Complete this question by entering your answers in the tabs below. Compute the cost assigned to ending inventory using FIFO. Note: Round your average cost per unit to 2 decimal places. 4. Compute gross profit earned by the company for each of the four costing methods. Note: Round your average cost per unit to 2 decimal places
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