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Required information (The following information applies to the questions displayed below.] Dugan Sales had the following transactions for jackets in 2014, its first year of
Required information (The following information applies to the questions displayed below.] Dugan Sales had the following transactions for jackets in 2014, its first year of operations: Jan. 20 $ 1,296 Apr. 21 9,320 Purchased 72 units @ $18= Purchased 466 units @ $20 = Purchased 245 units @ $23 = Purchased 84 units @ $30 = 5,635 July 25 Sept. 19 2,520 During the year, Dugan Sales sold 815 jackets for $55 each. Required a. Compute the amount of ending inventory Dugan would report on the balance sheet, assuming the following cost flow assumptions: (1) FIFO, (2) LIFO, and (3) weighted average. (Round intermediate calculations and final answers to nearest whole dollar amount.) FIFO LIFO Weighted Average Ending inventory
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