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FIFO and LIFO costs under perpetual inventory system The following units of an item were avallable for sale during the year: The firm uses the

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FIFO and LIFO costs under perpetual inventory system The following units of an item were avallable for sale during the year: The firm uses the perpetual inventory system, and there are 21 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? 5 b. What is the total cost of the ending inventory according to LIFO

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