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In its first month of operations, Weatherall Company made three purchases of merchandise in the following sequence: (1) 120 units at $10, (2) 470 units
In its first month of operations, Weatherall Company made three purchases of merchandise in the following sequence: (1) 120 units at $10, (2) 470 units at $11, and (3) 140 units at $12. Assuming there are 380 units on hand, compute the cost of the ending inventory under the FIFO method and UFO method. Weatherall uses a periodic inventory system. Cost of the ending inventory
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