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Business, 27.02.2020 04:35 davechucktaylor

Determine the gross profit using the periodic inventory system and the LIFO inventory method, assuming that 18 units were sold at a sales price of $14. Date Item Units Cost Total January 1 Beginning inventory 5 $3 $15 January 12 Purchase 10 4 40 January 18 Purchase 8 5 40 Totals 23 $95 a.$182 b.$80 c.$172 d.$95

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Determine the gross profit using the periodic inventory system and the LIFO inventory method, assumi...
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