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FIFO and LIFO costs under perpetual inventory system The following units of an item were available for sale during the year: The firm uses the
FIFO and LIFO costs under perpetual inventory system
The following units of an item were available for sale during the year:
The firm uses the perpetual inventory system, and there are units of the item on hand at the end of the year.
a What is the total cost of the ending inventory according to FIFO?
$
b What is the total cost of the ending inventory according to LIFO?
$
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Principles Of International Auditing And Assurance
Authors: Rick Hayes, Philip Wallage, Peter Eimers
4th Edition
9463720065, 978-9463720069
