july 1 beg inv: 200 units $5 unit cost $1000 tot cost july 12 purchase: 500 units

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july 1 beg inv: 200 units $5 unit cost $1000 tot cost

july 12 purchase: 500 units $7 unit cost $3,500 tot cost

july 23 purchase: 700 units $8 unit cost $5,600 tot cost

july 31 end inv: 150 units

a) compute the ending inventory (a) FIFO, (b) LIFO, and (c) average cost.

b) how many units were sold?

c) what is gross profit for (a) FIFO, (b) LIFO, and (c) average cost.

Related Book For answer-question

Managerial Decision Modeling Business Analytics With Spreadsheet

ISBN: 9781501515101

4th Edition

Authors: Nagraj Balakrishnan, Barry Render, Ralph Stair, Charles Munson

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Posted Date: Feb 27, 2024 12:26 AM

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july 1 beg inv: 200 units $5 unit cost $1000 tot cost july 12 purchase: 500 units

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Managerial Decision Modeling Business Analytics With Spreadsheet

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