Grouper Inc is aretailer using a perpetual inventory system. All sales returns from customersresult in the...
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Grouper Inc is aretailer using a perpetual inventory system. All sales returns from customersresult in the goods being returmed to inventory. (Assume that the inventory is not damaged) Assume that there are no credit transactions; all amounts are settied in cash, You are provided with the following information for Grouper Inc. for the month of January Unit Cost or Date Description Quantity Selling Price Dec. 31 Beginning inventory 160 $19 Jan 2 Purchase 100 23 Jan Sale 180 39 Jan 9. Sale return 10 39 Jan, Purchase 75 25 Jan. 10 Purchase return 15 25 Jan 10 Sale 50 46 Jan. 23 Purchase 100 26 Jan. 30 Sale 120 49 Using Average method, calculate ) cost of goods sold, G) ending inventory, and 0 gross proft. (Round average cost to 3 decimal places, eg 5.252 and final answers to 2 decimal places, e5.25) Cost of goods sold Ending Inventory Gross Proht Grouper Inc is aretailer using a perpetual inventory system. All sales returns from customersresult in the goods being returmed to inventory. (Assume that the inventory is not damaged) Assume that there are no credit transactions; all amounts are settied in cash, You are provided with the following information for Grouper Inc. for the month of January Unit Cost or Date Description Quantity Selling Price Dec. 31 Beginning inventory 160 $19 Jan 2 Purchase 100 23 Jan Sale 180 39 Jan 9. Sale return 10 39 Jan, Purchase 75 25 Jan. 10 Purchase return 15 25 Jan 10 Sale 50 46 Jan. 23 Purchase 100 26 Jan. 30 Sale 120 49 Using Average method, calculate ) cost of goods sold, G) ending inventory, and 0 gross proft. (Round average cost to 3 decimal places, eg 5.252 and final answers to 2 decimal places, e5.25) Cost of goods sold Ending Inventory Gross Proht
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