Question: The company reported the following inventory data for the year: Compute (1) cost of goods sold and (2) ending inventory assuming (a) FIFO inventory valuation,

The company reported the following inventory data for the year:

Compute (1) cost of goods sold and (2) ending inventory assuming (a) FIFO inventory valuation, (b) LIFO inventory valuation, and (c) average cost inventory valuation. The company uses a periodic inventory system.

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