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EXERCI Yenn Company uses the periodic inventory system to account for inventories. Information related to Yenn Company's inventory at October 31 is given below: October
EXERCI Yenn Company uses the periodic inventory system to account for inventories. Information related to Yenn Company's inventory at October 31 is given below: October inventory 400 units $10.00 October8Purchase 800 units $10.40 Beginning 4,000 8,320 October16 Purchase 600 units @ $10.80 6,480 October24 Purchase 200 units $11.60 2,320 Total units and cost 2,000units$21,120 Instructions Show computations to value the ending inventory using the FIFO cost assumption if 550 units remain on hand at October 31. 2.Show computations to value the ending inventory using the weighted-average cost method if 550 units remain on hand at October 31 Show computations to value the ending inventory using the LIFO cost assumption if 550 units remain on hand at October 31
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