Question
Inventory Valuation: FIFO, LIFO, and Average The company reported the following inventory data for the year: The company uses a periodic inventory system. Compute cost
Inventory Valuation: FIFO, LIFO, and Average
The company reported the following inventory data for the year:
The company uses a periodic inventory system.
Compute cost of goods sold assuming:
FIFO inventory valuation
$
LIFO inventory valuation
$
Average cost inventory valuation (Round the average cost per unit to four decimal places, and round your final answer to the nearest whole dollar.)
$
Compute ending inventory assuming:
FIFO inventory valuation
$
LIFO inventory valuation
$
Average cost inventory valuation (Round the average cost per unit to four decimal places, and round your final answer to the nearest whole dollar.)
$
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