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Flounder Appliance Mart Ltd. opened for business on May 1 and uses a perpetual inventory system. During May, the company had the following purchases and

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Flounder Appliance Mart Ltd. opened for business on May 1 and uses a perpetual inventory system. During May, the company had the following purchases and sales for one of its products: (a) Determine the cost of goods sold and cost of ending inventory using (1) FIFO and (2) average cost. Ignore the effect of income tax. (Round average cost answers to 2 decimal places

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