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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. Required: 1. Calculate cost
Required information [The following information applies to the questions displayed below.] The following are the transactions for the month of July. Required: 1. Calculate cost of goods available for sale and ending inventory under LIFO. Assume a periodic inventory system is used. . Calculate sales, cost of goods sold, and gross profit, under LIFO. Assume a periodic inventory system is used. \begin{tabular}{l|l} Required A & Required B \end{tabular} Calculate cost of goods available for sale and ending inventory under LIFO. Assume a periodic inventory system is used. \begin{tabular}{|l|l|l|l|} \hline LIFO(Periodic) & Units & CostperUnit & \multicolumn{2}{|c|}{ Total } \\ \hline Beginning Inventory & & & $1 \\ \hline Purchases & & & \\ \hline July 13 & & & $ \\ \hline Goods Available for Sale & & & \\ \hline Cost of Goods Sold & & & \\ \hline Units from Beginning Inventory & & & \\ \hline Units from July 13 Purchase & & & $ \\ \hline Total Cost of Goods Sold & & & \\ \hline Ending Inventory & & & \\ \hline \end{tabular} Required B> Complete this question by entering your answers in the tabs below. Calculate sales, cost of goods sold, and gross profit, under LIFO. Assume a periodic inventory system is used
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