the xyz company completed the following perpetual inventery transactions. may 1 begnining inventery 20units @$ 61each may 11 purchase 6 units @ $ 76 each may 23 sale 16 units @ $ 89 each may 26 purchase 14 units @ $ 86 each may 29 sale 17 units @ $ 89 each.                            requirements: 1. calculate cost of goods sold,cost of ending inventery , and gross proift using LIFO. 2. during of rising prices, which method  (FIFO-LIFO-AVCO) result in highest gross profit . why. 3.which method would be more withhe  maching principle .why

Quickbooks Online Accounting
3rd Edition
ISBN:9780357391693
Author:Owen
Publisher:Owen
Chapter4: Operating Activities: Sales And Cash Receipts
Section: Chapter Questions
Problem 2.3C
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the xyz company completed the following perpetual inventery transactions. may 1 begnining inventery 20units @$ 61each may 11 purchase 6 units @ $ 76 each may 23 sale 16 units @ $ 89 each may 26 purchase 14 units @ $ 86 each may 29 sale 17 units @ $ 89 each.                            requirements: 1. calculate cost of goods sold,cost of ending inventery , and gross proift using LIFO. 2. during of rising prices, which method  (FIFO-LIFO-AVCO) result in highest gross profit . why. 3.which method would be more withhe  maching principle .why                 

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