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please show work im having a hard time trying to understand thank you Exercises 4.19 through 4.25 are based on the following information. The Downtown
please show work im having a hard time trying to understand thank you
Exercises 4.19 through 4.25 are based on the following information. The Downtown Appliance Center, Inc. is a retailer of consumer appliances. One of its products is the Auto-Off Iron which had the following beginning inventory, purchase, and sales history during the current year: # of Irons Cost per Iron Total Cost January 1 inventory ............. $23 $161 May 6 purchases $26 $364 November 10 purchases $30 $270 Available for sale ............ $795 July 14 sales December 31 inventory ........ E4.22 Based on the information provided and assuming The Downtown Appliance Center, Inc. uses a perpetual inventory system and the last-in, first-out (LIFO) inventory method, determine cost of goods sold and ending inventory balance. E4.23 Based on the information provided and assuming The Downtown Appliance Center, Inc. uses a perpetual inventory system and the first-in, first-out (FIFO) inventory method, determine cost of goods sold and ending inventory balanceStep by Step Solution
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