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Beginning inventory 100 units at $60 Sale 75 Units at $112 First purchase 155 units at $65 Sale 135 units at $112 Second purchase 200
Beginning inventory 100 units at $60 Sale 75 Units at $112 First purchase 155 units at $65 Sale 135 units at $112 Second purchase 200 units at $72 Sale 175 units at $112 The firm uses the perpetual inventory system., and there are 70 units of the item on hand at the end of the year. What is the total cost of the ending inventory accorting to a)FIFO b) LIFO
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Jill E. Mitchell
14th Edition
1119707110, 978-1119707110
