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Saxton Company's inventory records for the most recent year contain the following data: (Click the icon to view the data.) Saxton Company sold a total
Saxton Company's inventory records for the most recent year contain the following data: (Click the icon to view the data.) Saxton Company sold a total of 18,500 units during the year. Read the requirements. Requirement 1. Using the average-cost method, compute the cost of goods sold and ending inventory for the year. (Round the average cost per unit to the nearest cent.) Using the average-cost method, the cost of goods sold is $ 20000 and the ending inventory is $ 11200 Requirement 2. Using the FIFO method, compute the cost of goods sold and ending inventory for the year. Using the FIFO method, the cost of goods sold is $ and the ending inventory is $L . Requirement 3. Using the LIFO method, compute the cost of goods sold and ending inventory for the year. Using the LIFO method, the cost of goods sold is $ and the ending inventory is $ Data Table Beginning inventory Purchases during year Quantity 4,000 16,000 Unit Cost $ 8.00 $ 12.00 Enter any number Print Done
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