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Question #2 The following information is provided for a single item of merchandise inventory at a retail store for the month of July: Date Transaction
Question #2 The following information is provided for a single item of merchandise inventory at a retail store for the month of July: Date Transaction January 1 beginning inventory February 7 purchase June 20 purchase June 25 purchase November 27 purchase Total # of Units 10 20 30 25 15 100 Unit Cost $5 7 8 6 10 At the end of the month there were 30 units remaining in inventory. Complete the following table: Cost of Goods Sold Ending Inventory First-In, First-Out (FIFO) Last-In, Last-Out (LIFO) Weighted Average
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