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E6-4B Stanton sells a surfboard, Flash that is popular with surfing enthusiasts. Below is information relating to the company's purchases of Flash surfboard during July.
E6-4B Stanton sells a surfboard, Flash that is popular with surfing enthusiasts. Below is information relating to the company's purchases of Flash surfboard during July. During the same month, 88 Flash surfboards were sold (40 on July 21 , and 48 on July 27 ). Instructions (a) Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods for both Perpetual and Periodic Inventory methods
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