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You are provided with the following information for Koctteritz Inc. for the month ended June 30, 2017. Koetteritz uses the periodic method for inventory. Instructions

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You are provided with the following information for Koctteritz Inc. for the month ended June 30, 2017. Koetteritz uses the periodic method for inventory. Instructions (a) Calculate (i) ending inventory, (ii) cost of goods sold, (iii) gross profit, and (iv) gross profit rate under each of the following methods. 1. LIFO. 2. FIFO. 3. Average-cost. (b) Compare results for the three cost flow assumptions

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