Three Identical Units of Item Magnesium XP Are Purchased During

question 31

Essay

Three identical units of Item Magnesium XP are purchased during May, as shown below.
$\begin{array} { | l | l | l | l | } \hline & \text { Item Magnesium XP } & \text { Units } & \text { Cost } \\\hline \text { May 3 } & \text { Purchase } & 1 & \$ 130 \\\hline \text { May 10 } & \text { Purchase } & 1 & 136 \\\hline \text { May 19 } & \text { Purchase } & 1 & 142 \\\hline \text { Total } & & 3 & \$ 408 \\\hline\end{array}$ Assume that two units are sold on May 23 for $313. Determine the gross profit for May and ending inventory on May 31 using (a) FIFO, (b) LIFO, and (c) average cost methods.

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Definitions:

Anti-Gay Prejudice

A strong dislike, fear, or hatred of gay men and lesbian women because of their same-sex behavior.

Fear

An emotional response to perceived threats or danger, prompting a fight-or-flight response in individuals.

Hatred

A deep and intense dislike or ill will toward a person, group, or object.

Harassment

Unwanted or unwelcome behavior that causes distress or discomfort, often in a repetitive or persistent manner.