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The following information for Dorado Corporation relates to the three-month period ending September 30. Sales Beginning inventory Purchases Ending inventory Units 480,000 46,000 455,000 21,000

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The following information for Dorado Corporation relates to the three-month period ending September 30. Sales Beginning inventory Purchases Ending inventory Units 480,000 46,000 455,000 21,000 Price per Unit $ 47 29 35 Dorado expects to purchase 205,000 units of inventory in the fourth quarter of the current calendar year at a cost of $36 per unit, and to have on hand 67,000 units of inventory at year-end. Dorado uses the last-in, first-out (LIFO) method to account for inventory costs. a. Determine the cost of goods sold and gross profit amounts Dorado should record for the three months ending September 30. b. Prepare journal entries to reflect these amounts. Complete this question by entering your answers in the tabs below. Required A Required B Determine the cost of goods sold and gross profit amounts Dorado should record for the three months ending September 30. Cost of goods sold Gross profit Record the entry for sales revenue. Record the entry for cost of good sold

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