Requirements Journalize the following for Dundas Company under the perpetual system: 1. Total...
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Requirements Journalize the following for Dundas Company under the perpetual system: 1. Total August purchases in one summary entry. All purchases were on credit. 2. Total August sales and cost of goods sold in two summary entries. The selling price was $525 per unit, and all sales were on credit. Assume that Dundas uses the FIFO inventory methoo. 3. Under FIFO, how much gross profit would Dundas earn on for the month ending August 31? What is the FIFO cost of Dundas Company's ending inventory? PrintDone
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