The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of La Fleur, Inc. for an operating period. Units Unit Total Units Cost Cost Sold Beginning Inventory 30 $28 $ 840 Sale No. 1 20 Purchase No. 1 50 40 2,000 Sale No. 2 40 Purchase No. 2 20 44 880 Totals 200 $3,720 60 Assuming La Fleur, Inc. uses LIFO perpetual inventory procedures, sale no. 2 is recorded as an entry to Cost of Goods Sold for: $1,120 $1,600 $1,480 $1.760

The following data represent the beginning inventory and, in order of occurrence, the purchases and sales of La Fleur, Inc. for an operating period. Units Unit Total Units Cost Cost Sold Beginning Inventory 30 $28 $ 840 Sale No. 1 20 Purchase No. 1 50 40 2,000 Sale No. 2 40 Purchase No. 2 20 44 880 Totals 200 $3,720 60 Assuming La Fleur, Inc. uses LIFO perpetual inventory procedures, sale no. 2 is recorded as an entry to Cost of Goods Sold for: $1,120 $1,600 $1,480 $1.760

Name: Urmilaben The following data represent the beginning inventory and, in
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Description: Urmilaben The following data represent the beginning inventory and, in order of occurrence, thepurchases and sales of La Fleur, Inc. for an operating period.UnitsUnitCostTotalUnitsCostSoldBeginning Inventory 30 $28 $840Sale No. 120Purchase No. 150402

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 12PA: Compare the calculations for gross margin for A76 Company, based on the results of the perpetual...

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Compare the calculations for gross margin for A76 Company, based on the results of the perpetual inventory calculations using FIFO, LIFO, and AVG.
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