Question: USE THE INFORMATION BELOW TO ANSWER THE QUESTIONS 2 4 - 2 8 Purchases of inventory and sales information for the Baker Company ( a
USE THE INFORMATION BELOW TO ANSWER THE QUESTIONS
Purchases of inventory and sales information for the Baker Company a retailer are summarized below by quarter. Assume Baker Company began operations on January with zero inventory:
tableMonthPurchases in Units,Cost per UnitJanuary$February$March$Quarter sales units at $ per unitApril$May$June$Quarter sales units at $ per unitJuly$August$September$Quarter sales units at $ per unitOctober$November$December$Quarter sales units at per unit
Given the information above, compute the following amounts in dollars:
Gross profit LIFO for ie from January to December
Ending inventory LIFO on December
Gross profit FIFO for ie from January to December
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