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Required information

requirea:

The company uses a perpetual inventory system.

a$.$ Determine the costs assigned to ending inventory and to cost of goods sold using FIFO.

b$.$ Determine the costs assigned to ending inventory and to cost of goods sold using LIFO.

c$.$ Compute the gross profit for each method.

Complete this question by entering your answers in the tabs below.

Required A

Required B

Required C

Determine the costs assigned to ending inventory and to cost of goods sold using FIFO.

$\backslash$table$[[$Perpetual FIFO:$],[$Date$,$Goods Purchased,Cost of Goods Sold,Inventory Balance$],[$# of units,Cost per unit,# of units sold,Cost per unit,,Cost of Goods Sold,# of units,Cost per unit,,Inventory Balance$],[$January $1,,,,,,,,,,],[$January $3,,,,,,,,,,],[,,,,,,,,,,],[$February $14,,,,,,,,,,]]$

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Required information

requirea:

The company uses a perpetual inventory system.

a$.$ Determine the costs assigned to ending inventory and to cost of goods sold using FIFO.

b$.$ Determine the costs assigned to ending inventory and to cost of goods sold using LIFO.

c$.$ Compute the gross profit for each method.

Complete this question by entering your answers in the tabs below.

Required A

Required B

Required C

Determine the costs assigned to ending inventory and to cost of goods sold using FIFO.

$\backslash$table$[[$Perpetual FIFO:$],[$Date$,$Goods Purchased,Cost of Goods Sold,Inventory Balance$],[$# of units,Cost per unit,# of units sold,Cost per unit,,Cost of Goods Sold,# of units,Cost per unit,,Inventory Balance$],[$January $1,,,,,,,,,,],[$January $3,,,,,,,,,,],[,,,,,,,,,,],[$February $14,,,,,,,,,,]]$

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Required information

requirea:

The company uses a perpetual inventory system.

a$.$ Determine the costs assigned to ending inventory and to cost of goods sold using FIFO.

b$.$ Determine the costs assigned to ending inventory and to cost of goods sold using LIFO.

c$.$ Compute the gross profit for each method.

Complete this question by entering your answers in the tabs below.

Required A

Required B

Required C

Determine the costs assigned to ending inventory and to cost of goods sold using FIFO.

$\backslash$table$[[$Perpetual FIFO:$],[$Date$,$Goods Purchased,Cost of Goods Sold,Inventory Balance$],[$# of units,Cost per unit,# of units sold,Cost per unit,,Cost of Goods Sold,# of units,Cost per unit,,Inventory Balance$],[$January $1,,,,,,,,,,],[$January $3,,,,,,,,,,],[,,,,,,,,,,],[$February $14,,,,,,,,,,]]$

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Required information

requirea:

The company uses a perpetual inventory system.

a$.$ Determine the costs assigned to ending inventory and to cost of goods sold using FIFO.

b$.$ Determine the costs assigned to ending inventory and to cost of goods sold using LIFO.

c$.$ Compute the gross profit for each method.

Complete this question by entering your answers in the tabs below.

Required A

Required B

Required C

Determine the costs assigned to ending inventory and to cost of goods sold using FIFO.

$\backslash$table$[[$Perpetual FIFO:$],[$Date$,$Goods Purchased,Cost of Goods Sold,Inventory Balance$],[$# of units,Cost per unit,# of units sold,Cost per unit,,Cost of Goods Sold,# of units,Cost per unit,,Inventory Balance$],[$January $1,,,,,,,,,,],[$January $3,,,,,,,,,,],[,,,,,,,,,,],[$February $14,,,,,,,,,,]]$

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Required information

Complete this question by entering your answers in the tabs below.

Required A

Required B

Required C

Compute the gross profit for each method.

$\backslash$table$[[,$FIFO,LIFO$],[$Sales revenue,,,,$],[$Cost of goods sold,,,,$],[$Gross profit,$$,0,$$$,]]$

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