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Shown below is the activity for one of the products of Silent Creations: January 1 balance, 90 units @ $50, $4,500 Purchases: January 17: 60
Shown below is the activity for one of the products of Silent Creations: January 1 balance, 90 units @ $50, $4,500 Purchases: January 17: 60 units @ $51 January 28: 60 units @ $52 Sales: January 12: 50 units January 22: 50 units January 31: 65 units Requirements: I Using Excel, create schedules to show Beginning Inventory, Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory for Silent Creations under all the following scenarios: 1. Assume Silent Creations uses FIFO perpetual inventory system. 2. Assume Silent Creations uses LIFO perpetual inventory system. 3. Assume Silent Creations uses Average Cost perpetual inventory system. You MUST use formulas in all
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