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Inventory information for Part 311 of Sheffield Corp. discloses the following information for the month of June. June 1 Balance 302 units @ $15 11
Inventory information for Part 311 of Sheffield Corp. discloses the following information for the month of June. June 1 Balance 302 units @ $15 11 Purchased 795 units @ $18 20 Purchased 499 units @ $20 June 10 Sold 197 units @ $36 15 Sold 499 units @ $38 27 Sold 296 units @ $41 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 $ to ta e Textbook 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) $ e Textbook and Media
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