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The Widget Company is a new merchandising business which has the following purchase and sales transactions. What is the starting inventory balance using the FIFO,

The Widget Company is a new merchandising business which has the following purchase and sales transactions. What is the starting inventory balance using the FIFO, LIFO and Weighted Average methods?

Oct 1 - Beginning inventory includes 5 units @ $1.00 (oldest) and 2 units @ $1.50 (newest)

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