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Leighton Inc. inventory records for a particular development program show the following at August 31, 2020: (Click the icon to view the inventory records.) Leighton
Leighton Inc. inventory records for a particular development program show the following at August 31, 2020: (Click the icon to view the inventory records.) Leighton uses the perpetual inventory system, Requirements 1. Compute cost of goods sold and ending inventory, using each of the following methods: a. Specific unit cost, with two $140 units, three $145 units, and four $150 units still on hand at the end b. Weighted-average cost c. First-in, first-out cost 2. Which method would be most relevant to producing the highest net income? Why? Leighton Inc. inventory records for a particular development program show the following at August 31, 2020: (Click the icon to view the inventory records.) Leighton uses the perpetual inventory system, Requirements 1. Compute cost of goods sold and ending inventory, using each of the following methods: a. Specific unit cost, with two $140 units, three $145 units, and four $150 units still on hand at the end b. Weighted-average cost c. First-in, first-out cost 2. Which method would be most relevant to producing the highest net income? Why
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