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Cant seem to figure out part 3 and 4 . Thanks! Units 1,500 Unit Cost $26 Transactions a. Inventory, Beginning For the year: b. Purchase,
Cant seem to figure out part 3 and 4
.
Thanks!
Units 1,500 Unit Cost $26 Transactions a. Inventory, Beginning For the year: b. Purchase, March 5 c. Purchase, September 19 d. Sale, April 15 (sold for $71 per unit) e. Sale, October 31 (sold for $74 per unit) f. Operating expenses (excluding income tax expense), $402,000 27 29 7,500 3,500 2,300 6,500 Required 1 Required 2 Required 3 Required 4 Required 6 Compute the cost of ending inventory and cost of goods sold under (a) Cost of Ending Cost of Goods Inventory Sold FIFO $ 304,000 LIFO Weighted Average Cost SCORESBY INC. Income Statement For the Year Ended December 31 FIFO LIFO Weighted Average Income (Loss) from OperationsStep by Step Solution
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