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Calculate the ending inventory and gross profit under fifo

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Problem 1: Ali Express Corp. shows the following inventory information for the month of April: April 1 Inventory 150 units @ $4 April 9 Purchased 550 units @ $4.50 April 17 Purchased 350 units @ $4.75 April 30 Purchased 300 units @ $5 Total sales in April were $9500 at a price of $10 per unit. Calculate the ending inventory, COGS and Gross profit under FIFO, LIFO and AVCO, assuming that the company uses periodic inventory system.

Reference no: EM132984983

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