We dig out the following for Company A for the month of May. The company uses FIFO and the perpetual method of inventory. Date Description Units / $sMay 1 Beg. Inventory 150 units @ $10.00May 5 Purchase 220 units @ $12.00May 10 Sale 140 units @ $20.00May 15 Purchase 100 units @ $13.00May 24 Sales 90 units @ $21.00 Calculate the following for the entire Month of May:Sales RevenueCost of Goods SoldGross ProfitEnding Inventory
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