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Sekhon Company had a beginning inventory on January 1 of 160 units of Product 4-18-15 at a cost of $20 per unit. During the
Sekhon Company had a beginning inventory on January 1 of 160 units of Product 4-18-15 at a cost of $20 per unit. During the year, purchases were as follows Mar. 15 July 201 400 units at $23 Sept. 4 330 units at $33 250 units at $28 Dec. 2 100 units at $30 Sekhon Company uses a periodic inventory system. Sales totaled 1,000 units Determine the ending inventory and the cost of goods sold under each of the assumed cost flow methods (FIFO, LIFO, and average cost). (Round answers to O decimal places, eg. 1,250) The ending inventory The cost of goods sold FIFO LIFO AVERAGE-COST
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