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(1) Determine the amounts of ending inventory assuming the company uses the LIFO method. (2) Determine the amounts of ending inventory assuming the company uses
(1) Determine the amounts of ending inventory assuming the company uses the LIFO method.
(2) Determine the amounts of ending inventory assuming the company uses the FIFO method.
(3) Determine the amounts of cost of goods sold assuming the company uses the FIFO method.
Inventory for the company. Sales for the period were 3,000 units. Each sold for $10 Date January February March April # of units Unit cost Total cost 2,000 1,000 500 1,000 $3.00 $4.00 $4.10 $4.20 $6,000 $4,000 $2,050 $4,200Step by Step Solution
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