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Westside Ltd uses the periodic inventory system and has the following inventory information for the month of March 2021: Date Detail Units Unit Cost 1-March

Westside Ltd uses the periodic inventory system and has the following inventory information for the month of March 2021:

Date

Detail

Units

Unit Cost

1-March

Inventory

3,000

$180

9- March

Purchase

4,000

$190

18- March

Purchase

1,500

$195

31- March

Inventory

1,700

-

Required:

Answer the following independent questions.

a) Assume that the company uses the FIFO method. The value of the cost of ending inventory at 31 March 2021 is $__________.

b) Assume that the company uses the average cost method. The value of the cost of ending inventory at 31 March 2021 is $__________.

c) Assume that the company uses the LIFO method. The value of the cost of sales at 31 March 2021 is $__________.

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