Question: Refer to exercise and assume the periodic inventory system is

Refer to Exercise and assume the periodic inventory system is used.
In Exercise, Harper Co. reported the following current-year purchases and sales data for its only product.
Determine the costs assigned to ending inventory and to cost of goods sold using
(a) FIFO,
(b) LIFO.
Compute the gross margin for each method.

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  • CreatedMarch 18, 2015
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