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Part C: what is the value of the ending inventory at FIFO Exercise 8-10 a-c (Part Level Submission) Inventory information for Part 311 of Blue
Part C: what is the value of the ending inventory at FIFO
Exercise 8-10 a-c (Part Level Submission) Inventory information for Part 311 of Blue Corp. discloses the following information for the month of June. 301 units $17 802 units@$20 499 units $21 195 units $40 496 units @$41 300 units$45 Balance June 10 Sold June 1 Sold Sold Purchased 11 15 Purchased 20 27 (a) Your answer is correct Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO. (1) LIFO (2) FIFO Cost of Goods Sold 20319 18917 Ending Inventory 11317 12719 SHOW ANSWER SHOW SOLUTION LINK TO TEXT Attempts: 1 of 3 used (b) Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of the ending inventory at LIFOStep by Step Solution
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