Question: MCB Ltd . uses a perpetual inventory system and reports the following transactions for the month of January: Required: ( 1 ) Under the FIFO
MCB Ltd uses a perpetual inventory system and reports the following transactions for
the month of January:
Required:
Under the FIFO Costflow method, Under the LIFO Costflow method, and
Under the Weighted Average Costflow method;
a Journalize the transactions and prepare the ledger accounts Taccounts
b Calculate Gross Profit
c Calculate Gross Profit Margin
d Calculate the Cost of Ending Inventory
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