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Calculate the ending inventory, COGS and Gross profit

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Reference no: EM132944495

Question - Daraaz 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 950 units at a price of $10 per unit.

Required - Calculate the ending inventory, COGS and Gross profit under FIFO and LIFO, assuming that the company uses periodic inventory system.

Reference no: EM132944495

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