Kaisen Co. is a retail company that started operating on October 1, 2023. The transactions related...

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Kaisen Co. is a retail company that started operating on October 1, 2023. The transactions related to its inventory during October were as follows: Date Description 1-Oct Beginning Inventory 5-Oct Purchase 10-Oct Purchase 11-Oct Purchase Return 13-Oct Sales 18-Oct Sales Return 21-Oct Sales 23-Oct Purchase 26-Oct Sales 30-Oct Purchase Instructions: Quantity Unit Cost or Selling Price 4,500 $8 500 $9 135 $10 100 $10 4,100 $17 123 $17 973 $18 1,200 $11 1,000 $18.5 525 $12 a. Calculate cost of goods sold, ending inventory, and gross profit under the perpetual and periodic system for each of the following cost flow assumptions: 1. FIFO Method 2. Average-Cost Method (the resulting number should not be rounded) b. Compare the results for the two cost flow assumptions and give your conclusion! Kaisen Co. is a retail company that started operating on October 1, 2023. The transactions related to its inventory during October were as follows: Date Description 1-Oct Beginning Inventory 5-Oct Purchase 10-Oct Purchase 11-Oct Purchase Return 13-Oct Sales 18-Oct Sales Return 21-Oct Sales 23-Oct Purchase 26-Oct Sales 30-Oct Purchase Instructions: Quantity Unit Cost or Selling Price 4,500 $8 500 $9 135 $10 100 $10 4,100 $17 123 $17 973 $18 1,200 $11 1,000 $18.5 525 $12 a. Calculate cost of goods sold, ending inventory, and gross profit under the perpetual and periodic system for each of the following cost flow assumptions: 1. FIFO Method 2. Average-Cost Method (the resulting number should not be rounded) b. Compare the results for the two cost flow assumptions and give your conclusion!

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FIFO Method Calculate the cost of goods sold COGS for the sales transactions October 13th 4100 units ... View the full answer