Assume that Toys Galore store purchased and sold a line of dolls during December as follows: (Click the icon to view the transactions.) Toys Galore uses the perpetual inventory system. Read the Requirement 1. Compute the cost of goods sold, cost of ending merchandise inventory, and gross profit using the FIFO inventory costing method. sold, and on hand at the end of the period. (Enter the oldest inventory layers first.) More info
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