The following information was drawn from the inventory records of Alpha Company as of Year...
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Accounting
The following information was drawn from the inventory records of Alpha Company as of Year 2.
Beginning inventory(purchased in year 1) 200 Units @ $5 each Purchases made in Year 2 800 Units @ $8 each Units Sold 900 Units @ $12 each
Which of the following is the amount of the gross margin shown on the Year 2 income statement assuming Alpha uses a LIFO cost method?
Required information The following information pertains to Ping Company for 20X1. Ending inventory consisted of 30 units. Ping sold 210 units at $50 each. All purchases a Compute the gross margin for Ping Company using the following cost flow assumption (1) FIFO, (2) LIFO, and (3) weighted average
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