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Using the following information to calculate ending inventory on (a) a LIFO basis (b) FIFO basis and (c) average-cost basis. Assume a perpetual inventory system.
Using the following information to calculate ending inventory on (a) a LIFO basis (b) FIFO basis and (c) average-cost basis. Assume a perpetual inventory system. Round answers to the nearest dollar. Dec. 1 Beginning inventory 70 units @ $28 Dec. 9 Purchases 30 units @ $32 Dec. 17 Sales 25 units Dec. 22 Purchases 15 units @ $36 Dec. 27 Sales 40 units
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Principles Of Financial Accounting (Chapters 1-17)
Authors: John Wild
24th Edition
1260158608, 9781260158601
