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Doherty Company's records show the following information related to one of its products: May 1 Balance on hand 300 units @ $5 May 12 Purchased
Doherty Company's records show the following information related to one of its products:
May 1 Balance on hand 300 units @ $5
May 12 Purchased 600 units @ $6
May 30 Purchased 100 units @ $7
Doherty Company uses a periodic inventory system. Assuming that 600 units were sold during May.
Compute the May 31 inventory and the cost of goods sold during May under each of the following methods: FIFO, LIFO, Weighted-Average
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