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Bridgeport Company uses the periodic inventory method and had the following inventory information available: Units Unit Cost Total Cost 1/1 Beginning Inventory 95 $3 $285

Bridgeport Company uses the periodic inventory method and had the following inventory information available:

Units Unit Cost Total Cost

1/1

Beginning Inventory

95 $3 $285

1/20

Purchase

500 $5 2,500

7/25

Purchase

105 $6 630

10/20

Purchase

275 $7 1,925
975 $5,340

1.

Assume that the company uses the FIFO method. The value of the ending inventory at December 31 is

?
2.

Assume that the company uses the average-cost method. The value of the ending inventory on December 31 is

?
3.

Assume that the company uses the LIFO method. The value of the ending inventory on December 31 is

?
4. (a)

Determine the difference in the amount of income that the company would have reported if it had used the FIFO method instead of the LIFO method.

?
4. (b)

Would income have been greater or less? ?

hi I need answer for 1,2,3,4, and 5

asap thanks

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