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Use the following data for #5-12: Inventory information is presented below. Please calculate the ending inventory, cost of goods sold, and gross profit for each
Use the following data for #5-12: Inventory information is presented below. Please calculate the ending inventory, cost of goods sold, and gross profit for each of the six inventory methods below and answer the questions. Round answers to the nearest dollar. 4/1 - Beginning inventory - 12 units at $22 cost 4/10 - Purchase - 22 units at $23 cost 4/15 - Sale - 26 units ($30 sales price) 4/20 - Purchase - 27 units at $24 cost 4/25 - Sale - 21 units ($30 sales price) #5 - Ending inventory using periodic LIFO is: #6 - Ending inventory using perpetual FIFO is: #7 - Ending inventory using perpetual moving average is: #8 - Cost of goods sold using periodic FIFO is: #9 - Cost of goods sold using periodic weighted average is: #10 - Cost of goods sold using perpetual LIFO is: #11 - Gross profit using periodic LIFO is: #12 - Gross profit using perpetual LIFO is
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