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Is this answer correct??? a) On the 1 June Billy Bob's Manufacturing Ltd. has 50 items of inventory at a cost of $445 on hand.

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a) On the 1 June Billy Bob's Manufacturing Ltd. has 50 items of inventory at a cost of $445 on hand. Throughout June the following purchases were made: A physical count of inventory on June 30 reveals that there are 255 items on hand. Billy Bob uses the periodic inventory system. Calculate the cost of goods sold and ending Inventory using the following inventory costing methods: i) FIFO

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