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The following three identical units of Item BZ1810 are purchased during November: 743units) Assume that one unit is sold on November 30 for $90. Determine
The following three identical units of Item BZ1810 are purchased during November: 743units) Assume that one unit is sold on November 30 for $90. Determine the gross profit for November and ending inventory on November 30 using the (a) first-in, firstout (FIFO); (b) last-in, first-out (LIFO); and (c) weighted average cost methods. Beginning inventory, purchases, and sales for Item Zebra 9x are as follows: Assuming a perpetual inventory system and using the last-in, first-out (LIFO) method, determine (a) the cost of goods sold on April 27 and (b) the inventory on April 30 . c. Are the changes in the inventory turnover and days' sales in inventory from 20Y3 to 20Y4 favorable or unfavorable? 8. Inventory Turnover and Days' Sales in Inventory Obj. 7 Financial statement data for two years ending December 31 for Holland Company follow: a. Determine the inventory turnover for 20Y4 and 20Y3. b. Determine the days' sales in inventory for 20Y4 and 20Y3. Use 365 days and round to one decimal place
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