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Please show all work. I cant figure this out after part a. Thank you so much! Coronado Company uses a periodic system reports the following
Please show all work. I cant figure this out after part a. Thank you so much!
Coronado Company uses a periodic system reports the following for the month of June. Units Unit Cost $4 Total Cost $ 960 240 5 June 1 12 23 30 Inventory Purchase Purchase Inventory 430 310 2.150 1.860 6 120 (a) Your Answer Correct Answer Your answer is correct Compute the cost of the ending inventory and the cost of goods sold under FIFO and LIFO. FIFO LIFO 720 $ 480 Cost of the ending inventory $ Cost of goods sold $ $ 4490 e Textbook and Media Solution Attempts: 1 of 1 used (b) Which costing method gives the highest ending inventory? The highest cost of goods sold? Why? (c) How do the average-cost values for ending inventory and cost of goods sold relate to ending inventory and cost of goods sold for FIFO and LIFOStep by Step Solution
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