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Inventory Costing Methods - Periodic Method Fortune Stores uses the periodic inventory system for its merchandise inventory. The April 1 inventory for one of the
Inventory Costing Methods Periodic Method Fortune Stores uses the periodic inventory system for its merchandise inventory. The April inventory for one of the items in the merchandise inventory consisted of units with a unit cost of $ Transactions for this item during April were as follows:
tableAprilPurchased,units @$per unitSold,units @$per unitPurchased,units @$per unitSold,units,,
Required
a Calculate the cost of goods sold and the ending inventory cost for the month of April using the weightedaverage cost method. Do not round until your final answers. Round your final answers to the nearest dollar.
b Calculate the cost of goods sold and the ending inventory cost for the month of April using the firstin firstout method.
c Calculate the cost of goods sold and the ending inventory cost for the month of April using the lastin firstout method.
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