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For an item XXX, with stock movement records for a given month, calculate: a) Balance in Inventory and Total Exits by the FIFO, LIFO and

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For an item XXX, with stock movement records for a given month, calculate: a) Balance in Inventory and Total Exits by the FIFO, LIFO and Average Cost methods b) If the average selling price in the month was $ 28 / unit, and the Profit Tax rate is 8%, calculate the profit after tax by the three methods. Day Type Record Qty (un) Cost ($ / unit) $ 15.00 $ 16.00 3 NF-1 1200 5 600 10 1000 12 1500 $ 20.00 17 2000 Input Input Exit Input Exit Exit Input Exit Input Exit NF-2 Sale-1 NF-3 Sale-2 Sale-3 NF-4 Sale-4 NF-5 20 250 1200 22 $ 25.00 25 550 26 1500 $ 30.00 29 Sale-5 600

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