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The following data are available for Sellco for the fiscal year ended on January 31, 2023: Sales 780 units Beginning inventory 300 units @ $4
The following data are available for Sellco for the fiscal year ended on January 31, 2023: Sales 780 units Beginning inventory 300 units @ $4 Purchases, in chronological order 320 units @ $5 Purchases, in chronological order 420 units @ $6 Purchases, in chronological order 230 units @ $7 Required: Calculate cost of goods sold and ending inventory under the cost flow assumptions, FIFO, LIFO and Weighted average (using a periodic inventory system): Assume that net income using the weighted-average cost flow
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