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Following is partial information for the income statement of Audio Solutions Company under three different...

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Accounting

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Following is partial information for the income statement of Audio Solutions Company under three different inventory costing methods, assuming the use of a periodic inventory system Required: 1. Compute cost of goods sold under the FIFO.LIFO, and average cost inventory costing methods. (Round intermediate calculations to 2 decimal places. Round your answers to the nearen amount.) UFO Average Cost $ Cost of goods sold Beginning toy (390 units $26) Purchases (462 units $34) Goods available for sale Ending inventory (540) Cost of goods sold 10.140 $ 10.140 $ 10.40 15,708 15,708 708 2. Prepare an income statement through pretax income for each method Sales, 312 units unit sales price, 562: Expenses. 51.510 FO UFO Average Cost 24 W

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