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Anthony Company uses a perpetual inventory system




Question;Anthony Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March.Date Activities Units Acquired at Cost Units Sold at RetailMar. 1 Beginning inventory 50 units @ $50/unitMar. 5 Purchase 200 units @ $55/unitMar. 9 Sales 210 units @ $85/unitMar. 18 Purchase 60 units @ $60/unitMar. 25 Purchase 100 units @ $62/unitMar. 29 Sales 80 units @ $95/unitTotals 410 units 290 unitsCompute gross profit earned by the company for each of the four costing methods. (Round your per unit costs to 3 decimal places and inventory balances and final answer to the nearest dollar amount. Omit the "$" sign in your response.)Gross profitFIFO $LIFO $Weighted average $Specific identification $


Paper#43313 | Written in 18-Jul-2015

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