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ans for just no A E6-7 Shawn Company had 100 units in beginning inventory at a total cost of $10,000. The ampany purchased 200 units
ans for just no A
E6-7 Shawn Company had 100 units in beginning inventory at a total cost of $10,000. The ampany purchased 200 units at a total cost of $26,000. At the end of the year, Shawn had 75 units in ending inventory Instructions (a) Compute the cost of the ending inventory and the cost of goods sold under (1) FIFO, (2) LIFO, and (3) average-cost. (b) Which cost flow method would result in the highest net income? (c) Which cost flow method would result in inventories approximating current cost in the balance sheet? (d) Which cost flow method would result in Shawn paying the least taxes in the first yearStep by Step Solution
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