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Lucky Lulu had 2,000 units on hand at December 31st. In addition, it has the following inventory information: Beginning Inventory June 1 purchase September 5
Lucky Lulu had 2,000 units on hand at December 31st. In addition, it has the following inventory information: Beginning Inventory June 1 purchase September 5 purchase Total Units 1,000 5,000 4,000 10,000 Cost per unit $5.00 $5.25 $5.30 Total Value $5,000 $26,250 $21,200 Determine the cost (value) of ending inventory (2000 units) under LIFO and FIFO methods: LIFO ending inventory = $. FIFO ending inventory = $
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