Refer to QS 5-1 and assume the periodic inventory system is used. Determine the costs assigned to
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Refer to QS 5-1 and assume the periodic inventory system is used. Determine the costs assigned to the December 31 ending inventory when costs are assigned based on
(a) FIFO,
(b) LIFO,
(c) weighted average, and
(d) specific identification. l03
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