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using answers above compute the ending inventory under moving average cost Lily Appliance uses a perpetual inventory system. For its flat-screen television sets, the January
using answers above compute the ending inventory under moving average cost
Lily Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at $620 each On January 10, Lily purchased 6 units at $690 each. The company sold 2 units on January 8 and 5 units on January 15. (a) Compute the ending inventory under FIFO. Compute the ending inventory under L.IFO. Compute the ending inventory under moving-average cost. (Round average-cost per unit to 2 decimal places, e.g. 12.50 and final answer to 0 decimal places, e.g. 1,250.) Step by Step Solution
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