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Exercise 8-10 Inventory information for Part 311 of Ivanhoe Corp. discloses the following information for the month of June. June 1 Balance 11 Purchased 20
Exercise 8-10 Inventory information for Part 311 of Ivanhoe Corp. discloses the following information for the month of June. June 1 Balance 11 Purchased 20 Purchased 302 units @ $17 795 units @ $20 498 units @ $22 June 10 15 27 Sold Sold Sold 200 units @ $40 496 units @ $42 299 units @ $45 Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO. (1) ITE TE Cost of Goods Solds Ending Inventory $ Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of the ending inventory at LIFO? The ending inventory at LIFO Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the gross profit if the inventory is valued at FIFO? Gross Profit (FIFO) $
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