E6A-26 Comparing ending merchandise inventory, cost of goods sold, and gross profit using the periodic...
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E6A-26 Comparing ending merchandise inventory, cost of goods sold, and gross profit using the periodic inventory system-FIFO, Lino weighted average methods Assume that Jump Coffee Shop completed the following periodic inventory transac for a line of merchandise inventory: Jun. 1 Beginning merchandise inventory 17 units @ $ 15 each 12 Purchase 5 units @ $ 19 each 20 Sale 14 units @ $ 37 each 24 Purchase 11 units @ $ 23 each 513 29 Sale 13 units @ $ 37 each Requirements 6 mont X i5-90 1. Compute ending merchandise inventory, cost of goods sold, and gross profit using the FIFO inventory costing method. 2. Compute ending merchandise inventory, cost of goods sold, and gross profit using the LIFO inventory costing method. on hadal ! 3. Compute ending merchandise inventory, cost of goods sold, and gross profit using the weighted-average inventory costing method. (Round weighted average cost per unit to the nearest cent and all other amounts to the nearest dollar.)
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