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The following data is available for one of the products sold by Wild Optics Company, which uses the periodic inventory system: Dec. 1: On hand,

The following data is available for one of the products sold by Wild Optics Company, which uses the periodic inventory system:

Dec. 1:

On hand, 10 units at $8.00 each $ 80

Dec.5:

Purchased 30 units at $7.80 each $ 234

Dec. 18

Purchased 40 units at $8.15 each $ 326

Dec. 24

Purchased 20 units at $8.25 each $165

Available for sale during December100 units

$805

At the end of December, Wild Optics had 25 units on hand. The 75 units sold created revenue of $13 each. Determine the amounts for the December 31 ending inventory, the cost of goods sold for December, and the gross margin for December for each of the inventory costing methods listed below.

a. Weightedaverage

Ending Inventory

Cost of Goods Sold

Gross Profit

b. FIFO

Ending Inventory

Cost of Goods Sold

Gross Profit

c. LIFO

Ending Inventory

Cost of Goods Sold

Gross Profit

Show calculations here and put the answers in each of the cells of the table.

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