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Assume that a retailer s beginning inventory and purchases of a popular item during January included ( 1 ) 4 3 0 units at $
Assume that a retailers beginning inventory and purchases of a popular item during January included units at $ in beginning inventory on January units at $ purchased on January and units at $ purchased on January The company sold units on January and units on January
Required:
Calculate the cost of goods sold for the month of January under a FIFO periodic calculationb FIFO perpetual calculation and c LIFO periodic calculation
Which cost flow assumption and calculation approach would you recommend to management in order to save taxes?
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