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Instructions a. Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. b. Compute the cost of goods sold for the month using
Instructions a. Compute the ending inventory at September 30 using FIFO, LIFO, and average-cost. b. Compute the cost of goods sold for the month using the FIFO, LIFO, and average-cost methods. (For average-cost, round the average unit cost to three decimal places.) c. Assume that all of the snowboards are sold for \$205 each. Calculate Sales Revenue and Gross Profit under each inventory methods - FIFO, LIFO and Average Cost
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