Question: part b needs help as soon as possible Sheffield inc. is a retailer using a perpetual inventory system. All sales returns from customers result in

part b needs help as soon as possible

Sheffield inc. is a retailer using a perpetual inventory system. All sales returns from customers result in the goods being returned to ifventory. (Assume that the inventory is not damaged.) Assume that there are no credit transactions, all amounts are settied in cash. You are provided with the following information for Sheffield inc for the month of January. (a) $20 and purchibereturn had a colt of {25 Using Average method, calculate (i) cost of goods sold, (ii) ending inventory, and (ii) gross profit (Round overage cost to 3 decimal ploces, e. 5.252 and find answers to 2 decimal ploces, es. 5.25.) Ending Inventory Gross Profit efotbook and Media Attedpts: 0 of 15 used (c)

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