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Discuss the gross profit from sales for the period

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Very confused, please help

The beginning inventory at Funky Party Supplies and data on purchases and sales for a three-month period are shown (see attachment)

1. Record the inventory, purchases and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated (see attachment), using the last in first out method

2. Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period.

3. Determine the ending inventory cost as of March 31, 2016

Reference no: EM131763833

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