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Three Identical Units of Merchandise Were Purchased During March,as Shown:​​

Question 23

Essay

Three identical units of merchandise were purchased during March,as shown:​​ Three identical units of merchandise were purchased during March,as shown:​​ Assume that one unit is sold on March 23 for $1,125.Determine the gross profit for March and ending inventory on March 31 using (a)FIFO, (b)LIFO,and (c)average cost methods. Assume that one unit is sold on March 23 for $1,125.Determine the gross profit for March and ending inventory on March 31 using
(a)FIFO,
(b)LIFO,and
(c)average cost methods.

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