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Units Unit Inventory, December 31, prior year 1,830 $4 For the current year: Purchase, March 21 5,040 6 Purchase, August 1 2,870 7 Inventory, December
Units Unit Inventory, December 31, prior year 1,830 $4 For the current year: Purchase, March 21 5,040 6 Purchase, August 1 2,870 7 Inventory, December 31, current year 4,190 Required: Compute ending inventory and cost of goods sold for the current year under FIFO, LIFO, and average cost inventory costing methods. Note: Round "Average cost per unit" to 2 decimal places and final answers to nearest whole dollar amount. FIFO LIFO Average Cost Ending inventory Cost of goods sold $
Compute ending inventory and cost of goods sold for the current year under FIFO, LIFO, and average cost inventory costing methods Note: Round "Average cost per unit" to 2 decimal places and final answers to nearest whole dollar amountStep by Step Solution
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