The following information for Dorado Corporation relates to the three month period ending September 30 Dorado expects to purchase 260,000 units of inventory in the fourth quarter of the current calendar year at a cost of $47 per unit, and to have on hand 89,000 units of inventory at year end Dorado uses the last in, first out (LIFO) method to account for inventory costs Determine the cost of goods sold and gross profit amounts Dorado should record for the three months ending September 30 Prepare journal entries to reflect these amounts Sales Beginning inventory Purchases Ending inventory Units 535,000 57,000 510,000 32,000 Price per Unit $58 40 46 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 Prepare journal entries to reflect these amounts (If no entry is required for a transaction event, select No journal entry required in the first account field ) View transaction list Journal entry worksheet

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The following information for Dorado Corporation relates to the three-month period ending September 30. Dorado expects to purchase 260,000 units of inventory in the fourth

The following information for Dorado Corporation relates to the three-month period ending September 30.

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Dorado expects to purchase 260,000 units of inventory in the fourth quarter of the current calendar year at a cost of $47 per unit, and to have on hand 89,000 units of inventory at year-end. Dorado uses the last-in, first-out (LIFO) method to account for inventory costs.

Determine the cost of goods sold and gross profit amounts Dorado should record for the three months ending September 30.
Prepare journal entries to reflect these amounts.

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Sales Beginning inventory Purchases Ending inventory Units 535,000 57,000 510,000 32,000 Price per Unit $58 40 46 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 Prepare journal entries to reflect these amounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet