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Yi-Shryock Company sells many products. The iPear2 is one of its most popular items. Below is an analysis of the inventory purchases and sales of
Yi-Shryock Company sells many products. The iPear2 is one of its most popular items. Below is an analysis of the inventory purchases and sales of iPear2 for the month of March. Yi-Shryock Company uses the periodic inventory system. (a) Using the FIFO assumption, calculate the amount charged to cost of goods sold for March. (Show necessary computations) (b) Using the weighted average method, calculate the amount assigned to the inventory on hand on March 31. (Show necessary computations) (b) Using the LIFO assumption, calculate the amount assigned to the inventory on hand on March 31. (Show necessary computations)
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