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Inventory information for Part 311 of Metlock Corp. discloses the following information for the month of June. June 1 Sold Balance Purchased 296 units @
Inventory information for Part 311 of Metlock Corp. discloses the following information for the month of June. June 1 Sold Balance Purchased 296 units @ $13 801 units @ $15 501 units @ $17 June 10 15 204 units @ $31 495 units @ $32 11 Sold 20 Purchased 27 Sold 296 units @ $35 Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO. (1) LIFO (2) FIFO Cost of Goods Sold $ $ Ending Inventory $ $ $ eTextbook and Media Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of the ending inventory at LIFO? The ending inventory at LIFO $ eTextbook and Media Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the gross profit if the inventory is valued at FIFO? Gross Profit (FIFO) $
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