What is ending inventory assuming Northwest uses the gross method to record

# What is ending inventory assuming northwest uses the

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of goods sold for the year was \$380,000. Northwest uses a perpetual inventory system.36. What is ending inventory assuming Northwest uses the gross method to record purchases? A. \$112,490.B. \$112,550.C. \$116,500.D. \$120,300.37. The LIFO Conformity Rule states that if LIFO is used for: 38. During periods when costs are rising and inventory quantities are stable, ending inventory will be: 39. Company A is identical to Company B in every regard except that Company A uses FIFO and Company B uses LIFO. In an extended period of rising inventory costs, Company A's gross profit and inventory turnover ratio, compared to Company B's, would be:
40. Ending inventory using the average cost method is: A. \$ 650.B. \$1,000.C. \$ 707.D. \$ 600.41. Ending inventory using the FIFO method is: 42. Ending inventory using the LIFO method is: Nu Company reported the following pretax data for its first year of operations.43. What is Nu's net income if it elects FIFO?
44. What is Nu's gross profit ratio if it elects LIFO? A. 80%.B. 49%.C. 40%.D. 5%.Inventory records for Herb's Chemicals revealed the following:March 1, 2009, inventory - 1,000 gallons @ \$7.20 = \$7,20045. The ending inventory assuming FIFO is:
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