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Chapter 6 Exercises Inventories and Cost of Sales
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Inventory Costing Methods In-Class Exercise: Exercise No. Page 6-11 259 Inventory Costing – Periodic Omit Requirement (a) (Use the info from Exercise 6-3, as reflected on the next chart, to start your computations) In-Class Exercise: Exercise No. Page 6-11 259 Inventory Costing – Periodic Omit Requirement (a) (Use the info from Exercise 6-3, as reflected on the next chart, to start your computations)
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Inventory Costing Methods Illustration Data
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Inventory Costing Methods Weighted Average Method
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Inventory Costing Methods
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FIFO Method
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Inventory Costing Methods
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LIFO Method
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Inventory Costing Methods
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End of Exercise Inventory Costing Methods
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Retail Method In-Class Exercise): Exercise No. Page 6- 15 260Retail Method In-Class Exercise): Exercise No. Page 6- 15 260Retail Method
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Retail Method
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Alternate Format
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End of Exercise Retail Method
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Gross Profit Method In-Class Exercise): Exercise No. Page 6- 16 260Gross Profit Method In-Class Exercise): Exercise No. Page 6- 16 260Gross Profit Method
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Gross Profit Method (*) Cost of goods purchased computation: $1,590,000 - $23,100 + $37,600 = $1,604,500
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Gross Profit Method
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End of Exercise Gross Profit Method
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