Business
Business, 18.12.2019 21:31, ian2006huang

Prepare partial income statements through gross profit, under each of the following cost flow assumptions. (round answers to 2 decimal places, e. g. 125.25.) (1) specific identification method assuming:

(i) the march 5 sale consisted of 1,000 liters from the march 1 beginning inventory and 1,330 liters from the march 3 purchase; and
(ii) the march 30 sale consisted of the following number of units sold from beginning inventory and each purchase: 410 liters from march 1; 505 liters from march 3; 2,900 liters from march 10; 1,350 liters from march 20. (2) fifo (3) lifo

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Prepare partial income statements through gross profit, under each of the following cost flow assump...

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