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Scoresby Incorporated tracks the number of units purchased and soid throughout each year but applies its inventory costing method at the end of the year,
Scoresby Incorporated tracks the number of units purchased and soid throughout each year but applies its inventory costing method at the end of the year, as if It uses a periodic inventory system. Assume its accounting records provided the following information at the end of the annual accounting period, December 31 . Compute the cost of ending inventory alid cost of goods sold under (a) FIFO, (b) LIFO, and (c) weighted average cost. \begin{tabular}{|l|ll|l|} \hline & \multicolumn{2}{|c|}{ Cost of Ending Inventory } & Cost of Goods Sold \\ \hline FIFO & $ & 118,600 & \\ \hline LIFO & $ & 110,100 & \\ \hline Weighted Average Cost & & & \\ \hline \end{tabular} Required 1 Carcuiare ure number and cost of goods available for sale
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