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please help. 7/31/2019 Reporting and Analyzing Inventory BE6-13 Apply periodic FIFO and average cost. (LO 6) In its first month of operations, Queensland Inc. made

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7/31/2019 Reporting and Analyzing Inventory BE6-13 Apply periodic FIFO and average cost. (LO 6) In its first month of operations, Queensland Inc. made three purchases of merchandise in the following sequence: (1)370 units at $9 each, (2) 700 units at $12 each, and (3) 800 units at $11 each. A physical inventory count determined that there were 600 units on hand at the end of the month. Assuming Queensland uses a periodic inventory system, calculate the cost of the ending inventory and cost of goods sold using (a) FIFO and (b) average cost. (For average cost, use unrounded numbers in your calculations but round to the nearest cent for presentation purposes in your answer.)

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