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I need help in this question please!!! Inventory information for Part 311 of Swifty Corp. discloses the following information for the month of June. 42:55
I need help in this question please!!!
Inventory information for Part 311 of Swifty Corp. discloses the following information for the month of June. 42:55 Hic June 1 Balance 298 units @ $11 June 10 Sold 200 units @ $26 11 Purchased 802 units @ $13 15 27 Sold Sold 497 units @ $27 300 units @ $29 20 Purchased 497 units @ $14 Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO. (1) LIFO (2) FIFO Cost of Goods Sold $ 12,861 A $ Ending Inventory $ 7,801 $ Question Part Score Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of the ending inventory at LIFO? The ending inventory at LIFO $ Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of the ending inventory at LIFO? The ending inventory at LIFO $ Question Part Score --/3 Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the gross profit if the inventory is valued at FIFO? Gross Profit (FIFO) $ Question Part Score --/3Step by Step Solution
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