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C Company uses the periodic inventory system and estimate inventory values at the end of each quarter. The following 2021 data are for an item
C Company uses the periodic inventory system and estimate inventory values at the end of each quarter. The following 2021 data are for an item in C Company's inventory: Unit per unit Beginning Inventory 380 $11 Purchase Q1 210 13 Purchase Q2 220 15 Purchase Q3 250 16 Purchase Q4 200 17 C Company sold 200, 210, 240, and 240 units in Q1, Q2, Q3, and Q4, respectively. A. Calculate the cost of goods sold for2021 and ending inventory at 2021 using last-in, first- out (LIFO) method
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