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Compute FIFO and LIFO cost of goods sold and ending inventory under the perpetual inventory system. June 1 Beg. Balance 300 units @ $10 =
| Compute FIFO and LIFO cost of goods sold and ending inventory under the perpetual inventory system. | ||||
| June 1 | Beg. Balance | 300 units @ $10 = $3,000 | ||
| June 10 | Sold | 200 units @ $24 | ||
| June 11 | Purchased | 800 units @ $12 = 9,600 | ||
| June 15 | Sold | 500 units @ $25 | ||
| June 20 | Purchased | 500 units @ $13 = 6,500 | ||
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Managerial Accounting
Authors: Ray H. Garrison, Eric W. Noreen, Peter C. Brewer
13th Edition
978-0073379616, 73379611, 978-0697789938
