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The following data are for the Miller Corporation, which sells just one product: Units Unit Cost Beginning inventory January 1 200 $39 Purchases: February 11
The following data are for the Miller Corporation, which sells just one product: Units Unit Cost Beginning inventory January 1 200 $39 Purchases: February 11 500 $42 May 18 400 $49 October 23 100 $59 Sales March 1 400 July 1 400 Calculate the value of ending inventory and cost of goods sold using the periodic method and (a) first-in, first-out, (b) last-in, first-out, and (c) weighted-average cost method. Round your final answers to the nearest dollar. Cost of goods sold Ending inventory a. FIFO b. LI
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