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In its first month of operation acme company made three purchases of merchandise in the following sequence one 2 0 0 units at six dollars
In its first month of operation acme company made three purchases of merchandise in the following sequence one units at six dollars to units at seven dollars and three units at eight dollars assuming there are units on hand compute the cost of the ending inventory under one the FIFO method and to the LIFO method acme uses a periodic inventory system
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