The following are the transactions for the month of July. ...
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Accounting
The following are the transactions for the month of July. Units Unit Cost Unit Selling Price July Beginning Inventory $ July Purchase July Sold $ July Ending Inventory Required: a Calculate cost of goods available for sale and ending inventory under LIFO. Assume a periodic inventory system is used. b Calculate sales, cost of goods sold, and gross profit, under LIFO. Assume a periodic inventory system is used. alculate cost of goods available for sale and ending inventory under LIFO. Assume a periodic inventory system is used. LIFO Periodic Units Cost per Unit Total Beginning Inventory $ Purchases July $ Goods Available for Sale Cost of Goods Sold Total Cost of Goods Sold $ Ending Inventory Calculate sales, cost of goods sold, and gross profit, under LIFO. Assume a periodic inventory system is used. LIFO Periodic Sales Cost of Goods Sold Gross Profit
The following are the transactions for the month of July.
Units Unit Cost Unit Selling Price
July Beginning Inventory $
July Purchase
July Sold $
July Ending Inventory
Required:
a Calculate cost of goods available for sale and ending inventory under LIFO. Assume a periodic inventory system is used.
b Calculate sales, cost of goods sold, and gross profit, under LIFO. Assume a periodic inventory system is used.
alculate cost of goods available for sale and ending inventory under LIFO. Assume a periodic inventory system is used.
LIFO Periodic Units Cost per Unit Total
Beginning Inventory $
Purchases
July $
Goods Available for Sale
Cost of Goods Sold
Total Cost of Goods Sold $
Ending Inventory
Calculate sales, cost of goods sold, and gross profit, under LIFO. Assume a periodic inventory system is used.
LIFO Periodic
Sales
Cost of Goods Sold
Gross Profit
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