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PR?-2B.?IFO Perpetual InventoryOBJ. 2,?The beginning inve

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PR?-2B.?IFO Perpetual InventoryOBJ. 2,?The beginning inventory for Rhodes Co. and data on purchases and sales for a three-month period are shown in?roblem 7-1B.INSTRUCTIONSRecord the inventory, purchases, and cost of merchandise sold data in a perpetual inventory record similar to the one illustrated in?xhibit 4, using the last-in, first-out method.Determine the total sales, the total cost of merchandise sold, and the gross profit from sales for the period.ANSWER ?$253,070 3. Determine the ending inventory cost on June 30.BusinessAccountingACC 100

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