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The following is a record of Sheffield Company's transactions for Colt Products for the month of May 2025. (a) Assuming that perpetual inventories are not

image text in transcribed The following is a record of Sheffield Company's transactions for Colt Products for the month of May 2025. (a) Assuming that perpetual inventories are not maintained and that a physical count at the end of the month shows 982 units on hand, what is the cost of the ending inventory using (1) FIFO and (2) LIFO

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