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The beginning inventory balance of item A and the purchases during December were as follows: 3. 450 units 1.05 1,800 units@1.10 900 units 1.12 1,100
The beginning inventory balance of item A and the purchases during December were as follows: 3. 450 units 1.05 1,800 units@1.10 900 units 1.12 1,100 units@ 1.16 250 units1.25 Beginning Inventory Dec. 8th purchase Dec. 15th purchase Dec. 22nd purchase Dec. 29th purchase The ending inventory consisted of 825 units. Determine a) the cost of goods available for sale, b) the cost of the ending inventory and c) the cost of goods sold based on the following periodic methods of inventory valuation: a. FIFO b. LIFO c. Weighted Average Method
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