Question: Using the data provided in E 5 and assuming the perpetual inventory system, compute the cost of ending inventory, cost of goods sold, and gross

Using the data provided in E 5 and assuming the perpetual inventory system, compute the cost of ending inventory, cost of goods sold, and gross margin. Use the average-cost, FIFO, and LIFO inventor)' costing methods. Explain the reasons for the differences in gross mar- gin produced by the three methods. Round unit costs to cents and totals to dollars.

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