The following are the transactions for the month of July. Units Unit Cost Unit Selling...
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Accounting
The following are the transactions for the month of July. Units Unit Cost Unit Selling Price July 1 Beginning Inventory 57 $ 10 July 13 Purchase 285 12 July 25 Sold ( 100 ) $ 16 July 31 Ending Inventory 242 Calculate cost of goods available for sale and ending inventory, then sales, cost of goods sold, and gross profit, under (a) FIFO, (b) LIFO, and (c) weighted average cost. Assume a periodic inventory system is used. (Round "Cost per Unit" to 2 decimal places.) (a) FIFO (b) LIFO (c) Weighted Average Cost
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