Chec 10 Problem: Module 2 Textbook Problem 10 Learning Objective: Module 2.7 Show how different...
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Chec 10 Problem: Module 2 Textbook Problem 10 Learning Objective: Module 2.7 Show how different inventory cost flow methods (specific identification, FIFO, LIFO, and weighted average) affect financial statements The Shirt Shop had the following transactions for T-shirts for Year 1 its first year of operations 05 points 02:14 30 purchased Apr 21 Purchased Maly 25 purchased Sept. 10 chased As 150 its $ 90 3.500 $112.64 S12 During the year, The Shit Shop sold 720 T shirts for 517 each Required a. Compute the amount of ending inventory The Short Shop would report on the balance sheet assuming the flowing costo ossumptions.it FIFO (2) LIFO and weighted average b. Compute the difference in gross margin between the FIFO and LIFO Cost now assumption 10 a. Compute the amount of ending inventory The Shirt Shop would report on the balance sheet souming the following cost tow assumptions (FIFO (2) LIFO, and (3) weighted average b. Compute the difference in grous margin between the FIFO and UFO cost town Complete this question by entering your answers in the tabs below. muda Show Compute the once in grous margin between the Panduro contowane orce
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