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Periodic and Perpetual Systems - Calculating Ending Inventory and Cost of Sales Using Average Cost ( Moving Average ) , FIFO, and LIFO Undew Inc.
Periodic and Perpetual SystemsCalculating Ending Inventory and Cost of Sales Using Average Cost Moving Average FIFO, and LIFO
Undew Inc.s inventory records showed the following data for an item it sells regularly.
a Assuming that Undew maintains a periodic inventory system, compute ending inventory and cost of goods sold for the month ending January using average cost, FIFO, and LIFO.
b Assuming that Undew maintains a perpetual inventory system, compute ending inventory and cost of goods sold for the month ending January using moving average, FIFO, and LIFO.
FIFO periodic LIFO periodic Moving average perpetual FIFO perpetual LIFO perpetual
Average cost method periodic
Note: Use the result EXACTLY as displayed above in the calculations below.
Note: Do not use negative signs with any of your answers.
Note: Round your final answers to the nearest whole dollar. PLEASE HELP WITH OTHER PARTS "FIFO & LIFO PERIODIC, MOVING AVERAGE PERPETUAL, AND FIFO LIFO PERPETUAL. THANK YOU!
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