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Who Are You Company sells one product Presented below is information for January for Who Are You Company. Jan. 1 Jan. 4 Inventory Sale Jan.

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Who Are You Company sells one product Presented below is information for January for Who Are You Company. Jan. 1 Jan. 4 Inventory Sale Jan. 11 200 units at $10 each Jan. 13 Purchase Sale Jan. 20 Jan. 27 Purchase Sale 160 units at $16 each 300 units at $12 each 240 units at $17.50 each 320 units at $14.00 each 200 units at $18.00 each Who Are You Company uses the FIFO cost flow assumption. All purchases and sales are on account. Assume Who Are You Company uses a perpetual inventory system. Required: a) Prepare all necessary journal entries (16 points) b) Compute gross profit. (2 points) Space to answer Problem 2 a) Date Account Titles 1 Dr Cr

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