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The following data pertains to Tom's Printing, Inc's inventory: Date Quantity Unit Cost Beginning Inventory 50.00 7.00 1st purchase 350.00 12.00 During the period,
The following data pertains to Tom's Printing, Inc's inventory: Date Quantity Unit Cost Beginning Inventory 50.00 7.00 1st purchase 350.00 12.00 During the period, Tom sold 30 units of this product for $15 each. Using the average cost, FIFO and LIFO methods of inventory compute (1) the cost of goods sold, and (2) the cost of the ending inventory for each of the three methods. Please help me with how you calculated the answer. Thank you!
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