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Using the following information, find the ending inventory, cost of goods sold, and gross profit. Beck Inc. uses a periodic inventory system. At the end
Using the following information, find the ending inventory, cost of goods sold, and gross profit.
Beck Inc. uses a periodic inventory system. At the end of the annual accounting period, December 31, 2015, the accounting records provided the following information for product 2: Units Unit Cost Inventory, December 31, 2014 For the year 2015: 6,600 4 Purchase, March 5 Purchase, September 19 Sale ($27 each) Sale ($29 each) Operating expenses (excluding income tax expense) 18,600 9,600 8,200 15,600 8 10 $496,000Step by Step Solution
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