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1: Pillsbury Company's record of transactions concerning the month of September were as follows: Purchases Sales September (beginning inventory) 1 300@ $12.00 September 4 400
1: Pillsbury Company's record of transactions concerning the month of September were as follows: Purchases Sales September (beginning inventory) 1 300@ $12.00 September 4 400 3 200@ 12.10 17 600 12 300@ 12.25 27 300 16 300@ 12.30 30 200 22 500@ 12.30 26 300@ 12.40 A. Compute the inventory at September 30 on each of the following bases. Assume that the company used the periodic method to report its inventory. Carry unit costs to the nearest cent. (1) First-in, first-out (FIFO). (2) Last-in, first-out (LIFO). (3) Average cost. B. Repeat your calculations in (1), (2), and (3) above, under the assumption that the company used the perpetual method to report its inventory. Carry average unit costs to at least two decimal places
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