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The following information is available for Water Inc. Date January 1 (beginning inventory) 440 Purchases: January 10 January 15 January 30 Units Unit Cost
The following information is available for Water Inc. Date January 1 (beginning inventory) 440 Purchases: January 10 January 15 January 30 Units Unit Cost $50.00 330 52.00 660 52.50 440 55.00 The company maintains a periodic inventory system. A physical inventory count shows 550 units in stock on January 31. What is (a) ending inventory on January 31, and (b) cost of goods sold for January, using the LIFO inventory method? Note: Round your final answers below to the nearest whole dollar. Use your rounded ending inventory answer to compute part b. cost of goods sold. a. Ending inventory on January 31 $ 0 b. Cost of goods sold for January $ 0
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