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Q2. Cost flow assumption/Inventory valuation methods are important for any business to find the inventory and cost of goods sold balance. Ibri SAOG company provided

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Q2. Cost flow assumption/Inventory valuation methods are important for any business to find the inventory and cost of goods sold balance. Ibri SAOG company provided the following inventory information for the month of March 2020. a) Determine the cost of goods sold and ending inventory by using i) FIFO and ii) Weighted average method. b) Suggest the best method from the above two and write the reasons

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