Compute the gross margin for fifo method and lifo method

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Reference no: EM132886019

Hemming uses a perpetual inventory system.

Question 1. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO.

Question 2. Determine the costs assigned to ending inventory and to cost of goods sold using LIFO.

Question 3. Compute the gross margin for FIFO method and LIFO method.

Reference no: EM132886019

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