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Determine the gross profit using the periodic inventory system and the LIFO inventory method, assuming that 18 units were sold at a sales price of $14. Date Item Units Cost Total January 1 Beginning inventory 5 $3 $15 January 12 Purchase 10 4 40 January 18 Purchase 8 5 40 Totals 23 $95 a.$182 b.$80 c.$172 d.$95
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Considered alone, which of the following would increase a company's current ratio? a. an increase in net fixed assets.b. an increase in accrued liabilities.c. an increase in notes payable.d. an increase in accounts receivable.e. an increase in accounts payable.
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Determine the gross profit using the periodic inventory system and the LIFO inventory method, assumi...
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