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Please answer problem #6, SHOWING ALL WORK ACCORDINGLY. Thank you! Compute the cost to be assigned to ending inventory for each of the methods indicated
Please answer problem #6, SHOWING ALL WORK ACCORDINGLY. Thank you!
Compute the cost to be assigned to ending inventory for each of the methods indicated given the following information about purchases and sales during the year. (Do not round intermediate calculations. Round final answers to decimal places, eg. 2,520.) January 1 Beginning Inventory 155 items @ $4 - $ 620 May 1 Purchases 455 items @ $7 3,185 Total Available 610 items $ 3,805 Total Sales 430 items December 31 Ending Inventory 180 Cost assigned on an average-cost basis $ $ Cost assigned on a FIFO basis TA Costs assigned on a LIFO basis Step by Step Solution
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