Tree Seedlings has the following current-year purchases and sales for its only product. Exercise 6-18...
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Tree Seedlings has the following current-year purchases and sales for its only product. Exercise 6-18 Perpetual inventory costing P1 Required The company uses a perpetual inventory system. Determine the costs assigned to ending inventory and to cost of goods sold using (a) FIFO and (b) LIFO. (c) Compute the gross margin for each method. 248 Chapter 6 Inventories and Cost of Soles Exercise 6.19n Periodic inventory costing P3 Refer to the information in Exercise 6-18 and assume the periodic inventory system is used. Determine the costs assigned to ending inventory and to cost of goods sold using (a) FIFO and (b) L.IFO, (c) Compute the gross margin for each method
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