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Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 60 units at $80 per unit. During the year,
Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 60 units at $80 per unit. During the year, Cortez made two batch purchases of this chair. The first was a 202-unit purchase at $91 per unit; the second was a 240-unit purchase at $96 per unit. During the period, it sold 336 chairs. Required Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Cortez uses Ending Inventory X Answer is not complete. FIFO Units Unit Cost Ending Inventory 0 $ b. LIFO. Cost of Goods Sold Answer is not complete. LIFO Units Unit Cost Cost of Goods Sold @ $ @ ooo Total 0 $ Ending Inventory Answer is not complete. LIFO Units Unit Cost Ending Inventory $ @ @ Ooo Total ending inventory 0 $
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