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Alta Ski Company's inventory records contained the following information regarding its latest ski model. The company uses a periodic inventory system. Beginning inventory, January 1,
Alta Ski Company's inventory records contained the following information regarding its latest ski model. The company uses a periodic inventory system. Beginning inventory, January 1, 2011 600 units @ $80 each Purchases: January 15 1,000 units @ $95 each January 21 800 units @ $100 each Sales: January 5 400 units @ $120 each January 22 800 units @ $130 each January 29 400 units @ $135 each Ending inventory, January 31, 2011 800 units Compute cost of goods sold for January and the ending inventory using both the FIFO and LIFO methods. (Omit the "$" sign in your response.) Cost of Goods Sold Ending Inventory First-in, first-out (FIFO) $ $ Last-in, first-out (LIFO) $ $
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