Question: Inventory data are presented below. Please calculate the ending inventory, the cost of goods sold, and gross profit (at 1/31) using the methods listed below.
Inventory data are presented below. Please calculate the ending inventory, the cost of goods sold, and gross profit (at 1/31) using the methods listed below. 1/1 - Beginning inventory 10 units at $6 cost 1/10 - Purchase 12 units at $7 cost 1/15 - Sale 14 units at $12 sales price 1/20 - Purchase 12 units at $8 cost 1/25 - Sale 11 units at $12 sales price Inventory Cost of Goods Sold Gross Profit a. Periodic FIFO $__ b) Periodic LIFO c) Periodic Weighted Average A d) Perpetual FIFO e) Perpetual LIFO f) Perpetual Moving Average
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