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B . We worked through this problem in class. But it is a good one to revisit. Riker Corp. uses a periodic system of inventory

B. We worked through this problem in class. But it is a good one to revisit.
Riker Corp. uses a periodic system of inventory and reports the following balances in its accounts for
the years ending 207 and 208 prior to closing its nominal (temporary) inventory accounts:
Riker also has the following information regarding its real (permanent) inventory accounts from its ledger
(all provided after the periodic COGS adjustment has been made and nominal accounts are closed).
What amount of inventory would Riker record on its balance sheet at P1231?x8,1231?x7?
Determine the cost of goods sold for Riker Corp. during 20x8. Please provide step by step Instruction as well as appropriate solutions for each queston point!!
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