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Gilmer Incorporated provided the following for the year of 2014. Gilmer uses the periodic inventory method. Gilmer had 150 units in ending inventory. Beginning inventory

Gilmer Incorporated provided the following for the year of 2014. Gilmer uses the periodic inventory method. Gilmer had 150 units in ending inventory.

Beginning inventory

100 units @ $10 cost per unit

Purchases during the year

March 1

100 units @ $11 cost per unit

June 1

100 units @ $12 cost per unit

September 1

100 units @ $13 cost per unit

December 1

100 units @ $14 cost per unit

Provide the following information: What are purchases for the year? What is cost of goods available for sale for the year? Using the FIFO cost flow assumption, what is ending inventory for the year? Using the LIFO cost flow assumption, what is ending inventory for the year? Using the weighted average cost flow assumption, what is ending inventory for the year?

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