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help porfavor Cost Allocation and Lower-of-Cost-or-Merket Douglas Compary's beginning inventory and purchases during the fiscal year ended December 31, 20%, were as shown. There are
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Cost Allocation and Lower-of-Cost-or-Merket Douglas Compary's beginning inventory and purchases during the fiscal year ended December 31, 20\%, were as shown. There are 1,000 units of inventory on hand on December 31 . Required: 1. Calculate the total amount to be assigned to the ending inventory and cost of goods sold on December 31 under each of the faliowing methods: 1. Calculate the total amount to be assigned to the ending inventory and cost of goods sold on December 31 under each of the following methods: 2. Assume that the market price per unit (cost to replace) of Douglas's inventory on December 31 was 513 . Calculote the total amount to be assigned to the unding inventory on December 31 under each of the following methods Step by Step Solution
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