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Greencastle, Inc

Question 12

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Greencastle, Inc. reports the following information in its annual report:
Greencastle, Inc. reports the following information in its annual report: Sales for 2016 totaled $12,800,000. Cost of goods sold under LIFO totaled $7,400,000. Compute Greencastle's cost of goods sold and gross profit, assuming it uses the FIFO method. Sales for 2016 totaled $12,800,000. Cost of goods sold under LIFO totaled $7,400,000.
Compute Greencastle's cost of goods sold and gross profit, assuming it uses the FIFO method.

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Change in LIFO reser...

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