Calculate a) cost of goods sold, b) ending inventory, and c) gross profit for A76 Company,...
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Calculate a) cost of goods sold, b) ending inventory, and c) gross profit for A76 Company, considering the following transactions under three different cost allocation methods and assuming perpetual inventory system. Beginning Inventory 1/15 Sold 2/1 Purchased 2/18 Sold 3/10 Purchased 3/20 Sold FIFO Beginning Inventory 1/15 Sold 2/1 Purchased 2/18 Sold 3/10 Purchased 3/20 Sold #Units Unit Cost Unit Sales 420 $200 150 $401 250 205 275 421 200 215 260 441 DATE ITEM Inventory Value CGS Calculate a) cost of goods sold, b) ending inventory, and c) gross profit for A76 Company, considering the following transactions under three different cost allocation methods and assuming perpetual inventory system. Beginning Inventory 1/15 Sold 2/1 Purchased 2/18 Sold 3/10 Purchased 3/20 Sold FIFO Beginning Inventory 1/15 Sold 2/1 Purchased 2/18 Sold 3/10 Purchased 3/20 Sold #Units Unit Cost Unit Sales 420 $200 150 $401 250 205 275 421 200 215 260 441 DATE ITEM Inventory Value CGS
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