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A company sells a single product and had the following beginning inventory, purchases, and sales during January: Unit Cost Units Beginning Inventory 30 $6.00 January

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A company sells a single product and had the following beginning inventory, purchases, and sales during January: Unit Cost Units Beginning Inventory 30 $6.00 January 3 Sale 25 January 7 Purchase 45 $7.00 January 15 Purchase 40 $8.25 January 24 Sale 50 Calculate the ending inventory and cost of goods sold under each assumptions B through D below: B. The company uses a PERPETUAL inventory system and determines cost on a FIFO basis. Ending Inventory $ Cost of Goods Sold $ C. The company uses a PERPETUAL inventory system and determines cost on a LIFO basis. Ending Inventory $. Cost of Goods Sold $ D. The company uses a PERPETUAL inventory system and determines cost by weighted average. Ending Inventory $ Cost of Goods Sold $

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