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Required information [The following information applies to the questions displayed below.] The following are the transactions for the month of July. Unit Selling Price 250
Required information [The following information applies to the questions displayed below.] The following are the transactions for the month of July. Unit Selling Price 250 Units Unit Cost 50 $10 250 (100) 200 July 1 July 13 July 25 July 31 $10 Beginning Inventory Purchase Sold Ending Inventory $15 Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under LIFO. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places and your final answers to nearest whole dollar amount.) LIFO (Periodic) Units Cost per Total $ 0 Beginning Inventory Purchases July 13 Goods Available for Sale Cost of Goods Sold 10 Total Cost of Goods Sold Ending Inventory LIFO (Periodic). Sales Cost of Goods Sold Gross Profit
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