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USE THE FOLLOWING INFORMATION TO ANSWER QUESTIONS 27-30 The Hester Corporation, a diversified distribution compary, purchases carkors of canned golf halls from the LongDistance Company
USE THE FOLLOWING INFORMATION TO ANSWER QUESTIONS 27-30 The Hester Corporation, a diversified distribution compary, purchases carkors of canned golf halls from the LongDistance Company and markets the bells under the Hester brund name. Hester sturted operations on January 1, 2021, In the table below, Qharler 1 represents the time perioxl from January 1, 2021 to March 31,2021 and Quarter 2 represents the time period from April 1, 2021 to June 30, 2021. Hester began operations on January 1, 202 with no inventory. Purchases and sales datat for llester's first two quarters of business are sbown below: 27. Calculate the Quarter 2 ending inventories (in dollars) using the LIFO inventory valuation method. 28. Calculate Quarter 2 GROSS PROFIT using the LIFO inventory valuation method. 29. Calculate the Quarter 2 ending inventuries (in dollars) using the FTFO invertory valuation methoxL. 30. Calculate Quarter 2 GROSS PROEIT using the FIFO inveatory valuation method
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