Sales revenue 880 units sold 40 selling price 35200

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Sales revenue (880 units sold × $40 selling price)$35,200Less: FIFO cost of goods sold13,850Gross margin$21,350LIFO Gross marginSales revenue (880 units sold × $40 selling price)$35,200Less: LIFO cost of goods sold14,600Gross margin$20,6005. Martinez Company's ending inventory includes the following items.Per UnitProductUnitsCostMarketHelmets24$ 50$ 54Bats177872
Shoes3895 91Uniforms4236 36Required: Compute the lower of cost or market for ending inventory applied separately to each product.
6. In 2016, Dakota Company had net sales (at retail) of $260,000.At CostAt RetailBeginning inventory$63,800 $ 128,400Cost of goods purchased115,060 196,800Required: The above additional information is available from its records at the end of 2016. Use the retail inventory method to estimate Dakota's 2016 ending inventory at cost. (Round cost ratio to the nearest whole percentage.)

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