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Eric's Mechanics had the following inventory of adapters during the month of December. They sold 84 adapters during the month. Instructions: Compute the Cost of
Eric's Mechanics had the following inventory of adapters during the month of December. They sold 84 adapters during the month. Instructions: Compute the Cost of Goods Sold and Ending Inventory values for each of the methods below: 1. FIFO Method (7 points) 2. LIFO Method (7 points) 3. Average Method (6 points) Show the step-by step calculations of (1) COGS and then (2) Ending Inventory
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