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On January 1, a company begins the year with 4,000 units of inventory with a unit cost of $25. The company makes purchases at the
On January 1, a company begins the year with 4,000 units of inventory with a unit cost of $25. The company makes purchases at the end of each month based on expected units to be sold in the following month relative to current units on hand.
Mnnthly Diurrhacec Using the LIFO assumption, calculate cost of goods sold and the cost of ending inventory. (Hint: this calculation is made easier by re-sorting monthly purchases and using the Running Sum columns) Note: Round your answers to the nearest whole dollar
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