For Part II, determine the cost of goods available for sale. You will recall from Chapter 5 (see Part I above) that at the end of January, Cookie Creations had three mixers on hand at a cost of $575 each. For Part II of the assignment, you will calculate the following items: ·

ending inventory,

cost of goods sold,

gross profit, and

gross profit rate under each of the following methods: last-in, first-out (LIFO); first-in, first-out (FIFO); and average cost

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