Question
Bobby Wino & Company reported the following December 2020 transactions pertaining to a 62oz bottle of Retro Cream, one of the company's many inventory items:
Bobby Wino & Company reported the following December 2020 transactions pertaining to a 62oz bottle of Retro Cream, one of the company's many inventory items: Units Unit Cost Beginning inventory Jan 1 8 $ 23.00 5-Jan Purchase 20 $ 25.00 7-Jan Sale 18 10-Jan Purchase 22 $ 25.50 15-Jan Sale 6 20-Jan Purchase 10 $ 27.00 25-Jan Sale 13 Use the above information to calculate the following: 1 Cost of goods available for sale if the periodic system is used 2 Ending Inventory Value using FIFO periodic 3 Cost of goods sold using FIFO periodic 4 Ending Inventory Value using LIFO periodic 5 Cost of goods sold using LIFO periodic
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