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Please help me with the requirements below Question 2 Leupold Corporation manufactures optics and provides you with the following transaction information for the month of

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Question 2 Leupold Corporation manufactures optics and provides you with the following transaction information for the month of February 2020. 1-2, Opening inventory balance 1,560 units @ $315 each 7-2, Purchased 59 units @ $410 each 14-29 Purchased 90 units @ $175 each 21-2 Purchased 33 units @ $185 each 28-29 Purchased 315 units @ $95 each Inventory is counted on February 28th and they find they only have 257 units left meaning 1,800 units were sold during the month. Management has asked you to provide them with the ending inventory value and cost of goods sold under the FIFO and Weighted Average methods. They use a periodic inventory system. Requirements: 1 Calculate the closing inventory balance (in dollars) and the cost of goods sold (in dollars) using the FIFO method. Marks Available: 2 2 Calculate the closing inventory balance (in dollars) and the cost of goods sold in dollars) using the weighted average method. Round to the nearest cent. IE SX.XX Marks Available: 2 3 If management is trying to show higher net income, which method should they use? Marks Available: 1

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