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[The following information applies to the questions displayed below.] Anthony Company uses a perpetual inventory system. It entered into the following purchases and sales transactions
[The following information applies to the questions displayed below.] Anthony Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Mar. 1 Mar. 5 Purchase Mar. 9 Sales Mar. 18 Purchase Mar. 25 Purchase Mar. 29 Sales Activities Units Acquired at Cost 200 units $55/unit 60 units $60/unit Units Sold at Retail Beginning inventory50 units @$50/unit 210 units $85/unit 100 units $62/unit 80 units $95/unit Totals 410 units 290 units 4. Compute gross profit earned by the company for each of the four costing methods. (Round your per unit costs to 2 decimal places.) Gross profit (a) FIFO (b) LIFO (c) Weighted average (d) Specific identification
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