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The college campus bookstore uses a periodic inventory system. The bookstore purchases 400 copies of a textbook at $70 each in June, sold 1,900
The college campus bookstore uses a periodic inventory system. The bookstore purchases 400 copies of a textbook at $70 each in June, sold 1,900 copies of the textbook at $100 each in September. Calculate the following amounts related to the bookstore's inventory: Sales revenue Cost of Goods Sold, using the FIFO method Ending inventory, using the FIFO method Cost of Goods Sold, using LIFO method Ending inventory, using the LIFO method Cost of Goods Sold, using the Weighted Average method Gross profit, using the Weighted Average method
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