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The following data regarding purchases and sales of a commodity were taken from the related perpetual inventory account: Calculate the cost of the ending inventory
The following data regarding purchases and sales of a commodity were taken from the related perpetual inventory account:
Calculate the cost of the ending inventory at July using a the firstin firstout FIFO method and b the lastin firstout LIFO method. Identify the quantity, unit price, and total cost of each lot in the inventory.
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