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A business has inventory of material A of 400 units valued at $2.50p/u at 1 September. During the month of September, the movements of material
A business has inventory of material A of 400 units valued at $2.50p/u at 1 September. During the month of September, the movements of material A were as follows: From the information provided, compute the following for the current period: a) The cost of issues using the FIFO method. b) The value of the issues using the LIFO method. c) The cost of the issues using the weighted average cost method. d) The value of closing inventory using the weighted average cost method. e) The Net Profit using the FIFO method, assume that expenses are $2,550
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