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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 200 units at six dollars to 300 units at seven dollars and three 400 units at eight dollars assuming there are 250 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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