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Strand Corp has the following information: Beginning Inventory- Purchased- Purchased- Sold- 2,000 units @ $20/unit 3,000 units @ $25/unit 1,500 units @ $30/unit 4,400

Strand Corp has the following information: Beginning Inventory- Purchased- Purchased- Sold- 2,000 units @

Strand Corp has the following information: Beginning Inventory- Purchased- Purchased- Sold- 2,000 units @ $20/unit 3,000 units @ $25/unit 1,500 units @ $30/unit 4,400 units for $50/each REQUIRED: for FIFO, LIFO and Weighted Average: 1) Calculate the value of Ending Inventory 2) Calculate and show the schedule for Cost of Goods Sold 3) Calculate and show the schedule for Gross Profit 4) Calculate and show the Gross Profit Percentage (carry out at least 1 decimal place)

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A Under FIFO Method FirstIn FirstOut Calculation of the Ending Inventory For FIFO we are assuming that the first items purchased are the first to be sold Therefore the ending inventory consists of the ... blur-text-image

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