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Caring Hands Ltd. is a retailer specializing in hand care products. The company donates twenty...

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Accounting

Caring Hands Ltd. is a retailer specializing in hand care products. The company donates twenty percent of its profits to local charities. Caring Hands uses the perpetual inventory system and the following limited information relates to Caring Hands Ltd. `s inventory transactions during the month of May:

Date Units Cost / Unit Amount
May 1 Beginning Inventory 7,400 $ 36 $ 266,400
5 Sale 3,600
13 Purchase 1,600 $ 43 $ 68,800
17 Purchase 800 $ 44 $ 35,200
20 Sale 3,300
28 Purchase 2,600 $ 49 $ 127,400
30 Sale 4,000

Units sold were priced at $ 54.

Calculate Caring Hands' cost of goods sold, gross margin, and ending inventory for the month of May using FIFO.

Cost of Goods Sold $
Gross Margin $
Ending Inventory $

eTextbook and Media

Calculate Caring Hands' cost of goods sold, gross margin, and ending inventory for the month of May using weighted average. (Round calculations for cost per unit to 2 decimal places, e.g. 10.52 and final answers to 0 decimal places, e.g. 61,052.)

Cost of Goods Sold $
Gross Margin $
Ending Inventory $

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