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Aiello, Inc. had the following inventory in fiscal 2016. Compute the company's ending inventory for fiscal 2016 assuming the company used a) FIFO and b)

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Aiello, Inc. had the following inventory in fiscal 2016. Compute the company's ending inventory for fiscal 2016 assuming the company used a) FIFO and b) LIFO methods of accounting for inventory: Beginning Inventory, January 1, 2016: 1,000 units @ $15.00 Purchase 900 units @ $18.00 Purchase 200 units @ $13.50 Purchase 100 units @ $15.75 Sold 2,132 units in fiscal 2016 at $35 per unit. a) Ending Inventory under FIFO = b) Ending Inventory under LIFO =

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