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Washington Company had the following information for the year ending December 31: Units Unit Cost Beginning inventory 290 $32 Purchase: April 6 230 Sale: May
Washington Company had the following information for the year ending December 31: Units Unit Cost Beginning inventory 290 $32 Purchase: April 6 230 Sale: May 4 260 Purchase: July 19 410 Sale: September 9 570 Purchase: October 10 550 Washington uses the perpetual inventory system and the LIFO method. Required: Using LIFO (a) Compute the cost of ending inventory. (b) Compute the cost of goods sold for the year
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