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Urgent help on accounting homework please? Galaxy Company uses the periodic inventory method and recorded the following inventory and purchase transactions for the month of

Urgent help on accounting homework please?

Galaxy Company uses the periodic inventory method and recorded the following inventory and purchase transactions for the month of August 20X4.

Date Transaction Units Unit Cost Total
Aug1 Beginning Inventory 3,000 Units @1.00 $3,000
Aug3 Purchases 900 Units @1.20 1,080
Aug10 Purchases 800 Units @1.40 1,120
Aug17 Purchases 600 Units @1.60 960
Aug24 Purchases 300 Units @1.80 540

Determine the ending inventory balance at August 31 and the cost of goods sold for the month of August, 20X4 for Galaxy Company. Galaxy Company sold 3,100 units during August, 20X4. On August 31, a physical inventory count was conducted, and 2,500 units were on hand. Assume the company uses the last-in-first-out (LIFO) cost flow assumption.

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