given the following information , calculate the amount by which gross profit would differ between...
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Accounting
given the following information , calculate the amount by which gross profit would differ between FIFO and LIFO. assume periodic system beginning inventory 1400 units at 51 per unit pURCHASES 3000 UNITS AT 62 PER UNIT Units sold 2,200 units at 101 per unit calculate the cost of goods sold using the FIFO periodic cost flow assumption FIFO ( units x cost per unit= total cost) LIFO ( unit cost per unit = total cost )
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