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Compute the following cost of goods taking into consideration purchases, sales and returns. During January, a company that uses a perpetual inventory system had beginning
Compute the following cost of goods taking into consideration purchases, sales and returns. During January, a company that uses a perpetual inventory system had beginning inventory, purchases, and sales as follows, all sales are made at $25 per unit. The company also had returns as follows: What was the FIFO cost of the company's January 31 inventory? What was the LIFO cost of the company's January 31 inventory? What was the weighted average cost of the company's January 31 inventory
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