Cost of Goods Sold FIFO $111,100 LIFO 97,900 AVG 96,805 Compare the &biculations for gross margin for A76 Company, based on the results of the perpetual inventory calculations using FIFO, LIFO, and AVG. Round intermediate calculation to 2 decimal places and final answer to nearest whole dollar. Comparison of FIFO, LIFO, AVG; Perpetual FIFO LIFO AVG Sales Revenue Cost of Goods Sold Gross Margin
Cost of Goods Sold FIFO $111,100 LIFO 97,900 AVG 96,805 Compare the &biculations for gross margin for A76 Company, based on the results of the perpetual inventory calculations using FIFO, LIFO, and AVG. Round intermediate calculation to 2 decimal places and final answer to nearest whole dollar. Comparison of FIFO, LIFO, AVG; Perpetual FIFO LIFO AVG Sales Revenue Cost of Goods Sold Gross Margin
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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
Transcribed Image Text:76 Company, considering the following transactions under three different cost allocation methods and using perpetual inventory updating.
Number
of Units
Unit Cost
Sales
Beginning Inventory
260
$100
Sold
160
$140
Purchased
500
103
Sold
400
142
Purchased
420
110
Sold
370
174
Ending Inventory
250
Cost of
Goods Sold
FIFO
$111,100
LIFO
97,900
AVG
96,805
Compare the ealculations for gross margin for A76 Company, based on the results of the perpetual inventory calculations using FIFO, LIFO, and AVG. Round
intermediate calculation to 2 decimal places and final answer to nearest whole dollar.
Comparison of FIFO, LIFO, AVG; Perpetual
FIFO
LIFO
AVG
Sales Revenue
24
Cost of Goods Sold
Gross Margin
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