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Company ABC uses perpetual inventory system. The company has some inventory, purchases and sales data for the month of March as shown below; Inventory: $

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Company ABC uses perpetual inventory system. The company has some inventory, purchases and sales data for the month of March as shown below; Inventory: $ 800 March 1 March 10 200 units @ $4.00 500 units @ $4.50 Purchases: 2,250 March 20 400 units @ $4.75 1,900 March 30 300 units @ $5.00 1,500 Sales: March 15 500 units March 25 400 units The Physical inventory count on March 31st Shows 500 Units on hand. Required: 1- Compute the cost of goods sold and closing balance of inventory under FIFO inventory valuation method. 2- Compute the cost of goods sold and closing balance of inventory under LIFO inventory valuation method. 3- Compute the cost of goods sold and closing balance of inventory under average cost (weighted average) inventory valuation method

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