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Blossom Company had 120 units in beginning inventory at a total cost of $14,400. The company purchased 200 units at a total cost of $40,000.
Blossom Company had 120 units in beginning inventory at a total cost of $14,400. The company purchased 200 units at a total cost of $40,000. At the end of the year, Blossom had 70 units in ending inventory. Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round average-cost per unit and final answers to O decimal places, e.g. 1,250.) FIFO LIFO Average-cost TA $ $ The cost of the ending inventory The cost of goods sold $ $ $ TA $ $ e Textbook and Media Which cost flow method would result in the highest net income? Which cost flow method would result in inventories approximating current cost in the balance sheet? > e Textbook and Media Which cost flow method would result in Blossom paying the least taxes in the first year?
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