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Use the following information to answer the next two questions. Springdale Company reports the following information about inventory activity for Year 2: 9. Assuming the
Use the following information to answer the next two questions. Springdale Company reports the following information about inventory activity for Year 2: 9. Assuming the company uses the periodic inventory method and LIFO cost flow, cost of goods sold reported on the Year 2 income statement would be a. $473.00. b. $704.00. c. $455.00. d. $467.50. 10. Using the moving weighted average inventory cost flow method, the average unit cost after the first purchase would be (rounded to the nearest penny), a. $2.15. b. $2.12. c. $2.04. d. \$2.09
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