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Beginning Inventory # of units Cost per unit Total Beginning Inventory 15 $10 $150 Jan 1. Purchase 15 $11 $165 Jan 10. Purchase 15 $12 $180 Total 45 1. During January, AA sold...

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Question

Accounting

Beginning Inventory# of unitsCost per unitTotal
Beginning Inventory15$10$150
Jan 1. Purchase15$11$165
Jan 10. Purchase15$12$180
Total45

1. During January, AA sold 20 units at $30 per unit.

Under FIFO, how much is the GrossProfit?

$365

$380

$390

$395

2. During January, AA sold 20 units at $30 per unit
Under the Weighted Average Method, how much is theGross Profit?.

$365

$380

$395

$400

3. During January, AA sold 20 units at $30 per unit.

Under FIFO, how much is the Cost ofGoods Sold?

$205

$235

$260

$290

4. During January, AA sold 20 units at $30 per unit.

Under FIFO, how much is the value ofending inventory?

$205

$235

$260

$290

5. During January, AA sold 20 units at $30 per unit.

How much is the value of ending inventory under the WeightedAverage Method?

$195

$220

$275

$300

6. During January, AA sold 20 units at $30 per unit.

Under LIFO, how much is the Cost of Goods Sold?

$205

$235

$260

$290

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