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Blossom Enterprises uses a periodic inventory system for buckets it sells. It had a beginning inventory on April 1 of 71 units at a cost
Blossom Enterprises uses a periodic inventory system for buckets it sells. It had a beginning inventory on April 1 of 71 units at a cost of $6 per unit. During April, the following purchases and sales were made. April 7 Purchases 61 units at $7.00 122 units at $8.00 92 units at $9.00 13 23 29 51 units at $10.00 326 Sales April 5 122 units at $20 11 92 units at $20 20 82 units at $20 30 41 units at $20 337 Compute the April 30 ending inventory and April cost of goods sold under (a) average cost, (b) FIFO, and (c) LIFO. (Round cost per unit to 2 decimal places, e.g. 15.25 and final answer to 0 decimal places, e.g. 1,525.) (a) Average-cost-Ending Inventory $ Cost of Goods Sold $ (b) FIFO - Ending Inventory $ $ Cost of Goods Sold $ $ TA (c) LIFO-Ending Inventory $ $ Cost of Goods Sold $ TA
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