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Sheridan 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
Sheridan 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. 15400 units at $24 Sept. 4 300 units at $33 July 20220 units at \$28 Dec. 2100 units at$30 Sheridan Company uses a periodic inventory system . Sales totaled 975 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, e.g. 1,250.) The ending inventory The cost of goods sold $ FIFO 6300 25560 LA LA LIFO 4160 27700 LA LA AVERAGE-COST 5400 26460
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