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Accounting
Format Painter Clipboard a *, * A. A. AaBb CD AaBbCD AaBbc 1 Normal 1 No Spac. Heading 1 Font Paragraph Part II: Inventory Valuation Methods "U & Me' Corporation sells food & clothing. Given the following information: Beginning inventory on March 1 - 50 units, cost of $10/unit Purchases on March 15:25 units, cost of $20/unit Sales on March 31: 35 units Retail Sales Price Unit: $35 Required: Calculate Purchases, COGS, Ending Inventory & Gross Profit ander LIFO, FIFO, Weighted Average Cost & Specific Identification: LIFO: March:1 Purchases COGS End. Inv. 25 20 500 50 10 500 25 20 500 Totals: _35 35 1225 1225 Gross Profit Calculation: FIFO: March: Purchases COGS End. In Totals: 433 words
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