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At the beginning of the year 2001, Company XYZ had an inventory of 8,000 widgets with a unit cost of S6.00. During that year, the
At the beginning of the year 2001, Company XYZ had an inventory of 8,000 widgets with a unit cost of S6.00. During that year, the following purchases of widgets were made: At the end of 2001, the number of units in the inventory is 2,900. Use both the fifo and lifo methods to determine the cost of goods sold for 2001
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