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P.2.5. The following records show Muriel's company transactions in February 2022: Date Description Units Unit cost Beginning balance 600 $4.50 Feb 2 Purchase 800 $4.75
P.2.5. The following records show Muriel's company transactions in February 2022: Date Description Units Unit cost Beginning balance 600 $4.50 Feb 2 Purchase 800 $4.75 Feb 7 1,200 $4.80 Purchase Purchase Feb 16 550 $5.20 Feb 21 Sale 750 Feb 25 Sale 1,640 Feb 28 Purchase 1,000 $5.50 Assuming periodic inventory system, compute ending inventory and cost of goods sold at the end of February using (a) FIFO, (b) LIFO, and (c) average-cost. Assuming the unit selling price is $10.50, which method will result in the highest income tax expense
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