Given the following information, determine the cost of ending inventory at December 31:<\/p>
December 2: 5 units were purchased at $7 per unit. December 9: 10 units were purchased at $9.40 per unit.<\/p>
December 11: 12 units were sold at $35 per unitDecember 15: 20 units were purchased at $10.15 per unit December 22: 18 units were sold at $35 per unit <\/p>
Use the above information for parts a, b and c.<\/p>
a. Use the LIFO<\/strong> , Last In First Out, inventory flow and perpetual<\/strong> inventory method to value the ending inventory<\/strong>. SHOW YOUR WORK<\/strong><\/p> b. Use the FIFO<\/strong>, First In First Out, inventory flow and perpetual<\/strong> inventory method to value the ending inventory. <\/strong> SHOW YOUR WORK<\/strong><\/p> c. Use the weighted average<\/strong> inventory flow and perpetual<\/strong> inventory method to value the ending inventory. <\/strong> SHOW YOUR WORK<\/strong><\/p>",
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"question_posted": "2024-09-14 00:03:54",
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