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The inventory, purchases, and sales of a single product for the month of June are as follows Using the periodic inventory system compute the cost of ending inventory cost of goods sold and gross

The inventory, purchases, and sales of a single product for the month of June are as follows:  Using the periodic inventory system, compute the cost of ending inventory, cost of goods sold, and gross margin. Use the following inventory costing methods: average cost, FIFO, and LIFO. Explain the reasons for the differences in gross margin produced by the three methods. (Note: Round unit costs to cents and totals todollars.)

May 12 2020 View more View Less

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