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QUESTION #1 i. Use the inventory data in the table below to calculate the cost of goods sold, ending inventory and P&L under three methods

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QUESTION #1 i. Use the inventory data in the table below to calculate the cost of goods sold, ending inventory and P&L under three methods if we sell 15 units. Inventory Data UNITS SALES COST Date of Purchase COSTE UNITS 10,00 21,00 40,00 2,00 3,00 5,00 January 5th-2019 January 20th-201 March 23rd-2019 5 7 6,00 90,00 15 8 90,00 71,00 15,00 20,00 3,55 Average Cost In an inflationary environment, LIFO method will generate higher profits. True or False? Justify your

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