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FIFO and LIFO periodic inventory methods The Rock Shop shows the following data related to an item of inventory What value should be assigned to

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FIFO and LIFO periodic inventory methods The Rock Shop shows the following data related to an item of inventory What value should be assigned to the ending inventory using FIFO? What value should be assigned to cost of goods sold using LIFO? Perpetual LIFO A record of transactions for the month of May was as follows: Assuming that perpetual inventory records are kept in dollars, determine the ending inventory using LIFO

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