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QUESTION 26 Consider the following information for Jenny's Company, which uses a periodic (annual) inventory system: Transaction Units Unit Cost Total Cost January 1 55
QUESTION 26 Consider the following information for Jenny's Company, which uses a periodic (annual) inventory system: Transaction Units Unit Cost Total Cost January 1 55 510 $550 Beginning Inventory Purchase March 16 40 6 240 August 28 Purchase 15 10 150 October 31 Purchase 20 4 80 Goods Available for Sale 130 $1,020 The company sold 45 units on December 15. REQUIRED: Calculate the company's cost of Goods Sold and End Inventory using FIFO, LIFO, and weighted Average cost. CLEARLY identify the cost of Goods Sold or End inventory amounts. Show your calculation steps
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