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Bridgeport Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 5 sets at $575 each. On January 10,
Bridgeport Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 5 sets at $575 each. On January 10, Bridgeport purchased 7 units at $710 each. The company sold 2 units on January 8 and 4 units on January 15.
Compute the ending inventory under FIFO.
Compute the ending inventory under LIFO.
Compute the ending inventory under moving-average cost.
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