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please answer step by step with solution. Accountants are the Life () the Party Company is in the process of computing their ending inventory value
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Accountants are the Life () the Party Company is in the process of computing their ending inventory value for the year ended December 31, 2015. The following information is available: Beginning inventory (1-1) 5000 units @ $6.00 $30,000 March purchase 8000 units @ $6.50 52,000 May purchase 3000 units @ $7.00 21,000 November purchase 4000 units @ $10.00 40.000 143,000 During the year the company SOLD 6000 units. REQUIRED: 1. Compute the number of units LEFT in ending inventory: 2. Compute the value of the ending inventory and COGS under each of the methods below: ENDING INVENTORY COGS FIFO LIFO Weighted Average (carry per unit to two decimals)Step by Step Solution
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