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Step by step, as detailed as possible please Marigold Corporation had the following inventory transactions for the month of May. The beginning inventory on hand
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Marigold Corporation had the following inventory transactions for the month of May. The beginning inventory on hand on May 1 was 600 units at S6.20 per unit. MARIGOLD CORPORATION INVENTORY TRANSACTIONS FOR MONTH OF MAY Date Purchases Sales May 3 May 4 May 7 May 8 May 11 May 13 May 21 May 23 May 27 May 29 500 at $10.00 1,500 at $6.00 1,400 at $10.00 800 at $6.40 600 at $11.00 1,200 at $6.50 700 at $6.60 1,200 at $11.00 900 at $12.00 500 at $6.45 REQUIRED: Using the above information, compute the ending inventory and gross margin for Marigold Corporation using the following inventory cost flow assumptions. (a) FIFO, periodic (b) LIFO, perpetual. (c) Moving average (weighted average, perpetual). Round unit costs to two decimal placesStep by Step Solution
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