A7-2A(Calculation of ending inventory, cost of goods sold, and gross margin-perpetual system) Costless Company sells...
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Calculation of ending inventory, cost of goods sold, and gross marginperpetual system Costless Company sells discounted shoes to the fashionoriented consumer. The following schedule relates to the company's inventory for the month of March: Costless Company uses the perpetual inventory system. Required a Calculate Costless Company's cost of goods sold, gross margin, and ending inventory using: i FIFO ii weightedaverage. Round per unit cost to two decimal places. b Which cost formula produced the higher gross margin? APA Calculation of ending inventory, cost of goods sold, and gross marginperiodic system Required If your instructor has assigned the Appendix to this chapter, redo Problem A assuming that the company uses the periodic inventory system. Round weightedaverage per unit cost to two decimal places. 
Calculation of ending inventory, cost of goods sold, and gross marginperpetual system Costless Company sells discounted shoes to the fashionoriented consumer.
The following schedule relates to the company's inventory for the month of March:
Costless Company uses the perpetual inventory system.
Required
a Calculate Costless Company's cost of goods sold, gross margin, and ending inventory using:
i FIFO
ii weightedaverage. Round per unit cost to two decimal places.
b Which cost formula produced the higher gross margin?
APA Calculation of ending inventory, cost of goods sold, and gross marginperiodic system
Required
If your instructor has assigned the Appendix to this chapter, redo Problem A assuming that the company uses the periodic inventory system. Round weightedaverage per unit cost to two
decimal places.
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