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Inventory Costing Methods - Periodic Method The Lippert Company uses the periodic inventory system. The following July data are for an item in Lippert's inventory:
Inventory Costing MethodsPeriodic Method
The Lippert Company uses the periodic inventory system. The following July data are for an item in Lippert's inventory:
tableJuly Beginning inventory,units @$per unitPurchased,units @$per unitSold,units @Purchased,units @$per unit
Calculate the cost of goods sold for July and ending inventory at July using a firstin firstout, b lastin firstout, and c the weightedaverage cost methods. Round your final answers to the nearest dollar.
tableA Firstin Firstout:,Ending Inventory,$
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