Question: MCB Ltd . uses a perpetual inventory system and reports the following transactions for the month of January: January 1 Beginning Inventory, 3 0 ,

MCB Ltd. uses a perpetual inventory system and reports the following transactions for the month of January:
January 1 Beginning Inventory, 30,000 units purchased at $20 per unit.
January 5, Purchased with cash 30,000 units merchandise at $24 per unit.
January 10 Sold with cash 45,000 units merchandise at $24 per unit.
January 15 Purchased on account 15,000 units merchandise at $30 per unit.
January 20 Purchased with cash 30,000 units merchandise at $34 per unit.
January 25 Sold on account 40,000 units merchandise at $40 per unit.
Required:
(1) Under the FIFO Cost-flow method, (2) Under the LIFO Cost-flow method, and (3) Under the Weighted Average Cost-flow method;
a. Journalize the transactions and prepare the ledger accounts (T-accounts)
b. Calculate Gross Profit
c. Calculate Gross Profit Margin
d. Calculate the Cost of Ending Inventory
 MCB Ltd. uses a perpetual inventory system and reports the following

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