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K Mart's Supermarket was formed on December 1, 2021. The following information is available from K Mart's inventory record for Product B. A physical inventory
K Mart's Supermarket was formed on December 1, 2021. The following information is available from K Mart's inventory record for Product B. A physical inventory on March 31, 2022, shows 5,000 units on hand. Instructions Prepare schedules to compute the ending inventory at March 31, 2022, under each of the following inventory methods: (a) FIFO. (6 Points) (b) LIFO. (6 Points) (c) Weighted-average. (15 Points)
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