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Scott Sales had the following sales for the year 2022 , its first year of operations: During the year the company sold 830 units at

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Scott Sales had the following sales for the year 2022 , its first year of operations: During the year the company sold 830 units at $40 each. Required: a. Compute the amount of ending inventory under FIFO and LIFO method. b. Calculate the gross margin the company would report on the income statement. c. Record the above transactions in general journal format

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