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Cost flow assumptions-FIFO, LIFO, and weighted average using a periodic system The following data are available for Sellco for the fiscal year ended on January
Cost flow assumptions-FIFO, LIFO, and weighted average using a periodic system The following data are available for Sellco for the fiscal year ended on January 31, 2023: Required: a. Calculate cost of goods sold and ending inventory under the following cost flow assumptions (using a periodic inventory system): 1. FIFO. 2. LIFO. 3. Weighted average. Round the unit cost answer to two decimal places and ending inventory to the nearest $10
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