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Please show steps Inventory information for Part 311 of Blue Corp. discloses the following information for the month of June. June 1 June 10 Balance
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Inventory information for Part 311 of Blue Corp. discloses the following information for the month of June. June 1 June 10 Balance 301 units @ $17 Purchased 802 units @ $20 Sold 195 units @ $40 Sold 496 units @ $41 11 15 20 Purchased 499 units @ $21 27 Sold 300 units @ $45 (a) Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO. (1) LIFO (2) FIFO Cost of Goods Sold $ $ Ending Inventory $ $ e Textbook and MediaStep by Step Solution
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