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The last screen shot shows the question that was cut off in the second screen shot Current Attempt in Progress Ivanhoe Company uses the periodic
The last screen shot shows the question that was cut off in the second screen shot
Current Attempt in Progress Ivanhoe Company uses the periodic inventory method and had the following inventory information available: Units Unit Cost Total Cost 1/1 Beginning Inventory 86 $7 $602 1/20 Purchase 344 $8 2.752 7/25 Purchase 172 $9 1,548 10/20 Purchase 258 $10 2,580 860 $7,482 A physical count of inventory on December 31 revealed that there were 410 units on hand. Answer the following independent questions. (Round average per unit cost to 2 decimal places, e.g. 15.25 and other answers to 0 decimal places, e.g. 1,525.) A physical count of inventory on December 31 revealed that there were 410 units on hand. Answer the following independent questions. (Round average per unit cost to 2 decimal places, e.g. 15.25 and other answers to 0 decimal places, e.g. 1,525.) Assume that the company uses the FIFO method. The value of the ending inventory at December 31 is Assume that the company uses the Average-Cost method. The value of the ending inventory on December 31 is Assume that the company uses the LIFO method. The value of the ending inventory on December 31 is ) Determine the difference in the amount of income that the company would have reported if it had used the FIFO method instead Would income have been greater or less? he value of the ending inventory at December 31 is $ lethod. The value of the ending inventory on December 31 is $ he value of the ending inventory on December 31 is $ that the company would have reported if it had used the FIFO method instead of the LIFO method. $ e Textbook and Media Save for Later Attempts: 0 of 2 used SubmitStep by Step Solution
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