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Use the following information to calculate ending inventory value based on (a) a LIFO basis, (b) a FIFO basis, and (c) an average-cost basis. Also
Use the following information to calculate ending inventory value based on (a) a LIFO basis, (b) a FIFO basis, and (c) an average-cost basis. Also compute the CGS for each method. Assume a PERIODIC inventory system. During October, Tedesco Company sold 240 units of Product R. It is required to find the ending inventory in units. Its beginning inventory and purchases during the month were as follows: Oct. 1 5 10 15 20 25 Beginning inventory Purchases Purchases Purchases Purchases Purchases 100 units @ $20 100 units @ $24 100 units @ $22 100 units @ $24 100 units @ $28 100 units @ $26
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