Exam (elaborations)
ACCT 212 Week 5 Homework Assignment (GRADED A+) Questions and Answers | Download To Score An A
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1. Question: a. Required: Using FIFO, calculate ending inventory, cost of goods sold, sales revenue, and gross profit Sales revenue = 450 units × $70 = $31,500 Gross profit = Sales revenue − Cost of goods sold = $31,500 − $24,970 = $6,530 2. Question: b. Using LIFO, calculate ending inventory,...
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