Question: Periodic Inventory System and Inventory Costing Methods In chronological order, the inventory, purchases, and sales of a single product for a recent month are as

Periodic Inventory System and Inventory Costing Methods In chronological order, the

Periodic Inventory System and Inventory Costing Methods In chronological order, the inventory, purchases, and sales of a single product for a recent month are as follows. 1. Using the periodic inventory system, compute the cost of ending inventory, cost of goods sold, and gross margin. Use the average-cost, FIFO, and LIFO inventory costing methods. (Round unit costs to cents and totals to dollars.)

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