The following information is taken from a perpetual inventory record. For each of the following inventory valuation
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The following information is taken from a perpetual inventory record.
For each of the following inventory valuation methods, calculate the value of ending inventory and the cost of sales as of June 30.
Use formats of Exhibits 2.4(a), 2.4(b), and 2.4(c).
a. First-in, first-out method
b. Last-in, first-out method
c. Weighted average method
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