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Creative Kaos carries a large inventory of guitars and other musical instruments. The store uses the FIFO method and a perpetual inventory system. Company records
Creative Kaos carries a large inventory of guitars and other musical instruments. The store uses the FIFO method and a perpetual inventory system. Company records indicate the following for a particular line of guitars that sell for $1,800 each. Required Prepare a perpetual inventory record for the guitars. Then, determine the amounts Creative Kaos should report for ending inventory and cost of goods sold under the FIFO method
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