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assume the following data for Burnette Company for 20X5: Beginning inventory 10 units at $7 each. March 18 purchase 15 units at $9 each June
assume the following data for Burnette Company for 20X5: Beginning inventory 10 units at $7 each. March 18 purchase 15 units at $9 each June 10 purchase 20 units at $10 each October 30 purchase 12 units at $11 each. On December 31 a physical count reveals 15 units in ending inventory: Under the LIFO method ending inventory would be valued at? Under the FIFO method cost of goods sold on the income statement would be? Under the weighted-average method cost of goods sold on the income statement would be?
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