Question

I need help with understanding the sales revenue for computing the gross margin for FIFO method and LIFO method

Compute the gross margin for FIFO method and LIF0 method.
FIFO:
LIFO:
Sales revenue
Less: Cost of goods sold
Gross margin
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Transcribed Image Text

Compute the gross margin for FIFO method and LIF0 method. FIFO: LIFO: Sales revenue Less: Cost of goods sold Gross margin

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