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Dollar-Value LIFO Norman’s Televisions produces television sets in three categories

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Subject: Business
Topic: General Business
Due on: 06/02/2016
Posted On: 05/03/2016 11:59 AM

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Dollar-Value LIFO Norman’s Televisions produces television sets in three categories: portable, midsize, and flat-screen. On January 1, 2010, Norman adopted dollar-value LIFO and decided to use a single inventory pool. The company’s January 1 inventory consists of. During 2010, the company had the following purchases and sales. Round to four decimals
(a) Compute ending inventory, cost of goods sold, and gross profit.
(b) Assume the company uses three inventory pools instead of one. Repeat instruction(a).

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Dollar-Value LIFO Norman’s Televisions produces television sets in three categories

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