hmw week 6 - 0 out of 2 points Three identical units of...

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0 out of 2 pointsThree identical units of Item K113 are purchased during July, as shown below.Item K113Units CostJuly 9Purchase115317Purchase117126Purchase1192Assume that one unit is sold on July 31 for $254. Determine the gross profit for July using the last-in,first-out (LIFO) method.
Response Feedback:Sales - Last purchaseQuestion 2 0 out of 2 pointsThree identical units of Item K113 are purchased during July, as shown below.Item K113Units CostJuly 9Purchase116617Purchase117126Purchase1183Assume that one unit is sold on July 31 for $270. Determine the gross profit for July using the first-in,first-out (FIFO) method.
Response Feedback:Sales - First purchaseQuestion 3 0 out of 2 pointsThe units of an item available for sale during the year were as follows:Jan1Inventory18units at 122April15Purchase130units at117September9Purchase24units at121There are 41 units of the item in the physical inventory at December 31. The periodicinventory system is used. Determine the inventory cost using the first-in, first-out(FIFO)

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