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PR 7-2A LIFO perpetual inventory The beginning inventory at Funky Party Supplies and data on...

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PR 7-2A LIFO perpetual inventory The beginning inventory at Funky Party Supplies and data on purchases and sales for a three-month period are shown in Problem 7-1A. Instructions 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual oBJ. 2, 3 V2. Gross profit, $2,252,250 inventory record similar to the one illustrated in Exhibit 5, using the last-in, first-out method SHOW ME HOW 2. Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period. 3. Determine the ending inventory cost as of March 31, 2016 PR 7-2A LIFO perpetual inventory The beginning inventory at Funky Party Supplies and data on purchases and sales for a three-month period are shown in Problem 7-1A. Instructions 1. Record the inventory, purchases, and cost of merchandise sold data in a perpetual oBJ. 2, 3 V2. Gross profit, $2,252,250 inventory record similar to the one illustrated in Exhibit 5, using the last-in, first-out method SHOW ME HOW 2. Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period. 3. Determine the ending inventory cost as of March 31, 2016

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