Use the information below to determine the sales revenue, cost of goods sold and gross...
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Accounting
Use the information below to determine the sales revenue, cost of goods sold and gross profit that would be reported for the company related to the February 25th sale, under FIFO, LIFO, and Weighted Average assuming the company uses perpetual inventory system.
February 1:
Purchased 200 units at $20 per unit.
February 14:
Purchased 50 units at $22 per unit.
February 25:
Sold 60 units for $46 per unit.
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