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You have been given the following information for December 2021. December 1, 2021, beginning balance of inventory: 2,000 units @20.00 each. Purchases Dec 2 500
You have been given the following information for December 2021.
December 1, 2021, beginning balance of inventory: 2,000 units @20.00 each. Purchases Dec 2 500 @ $21.00 7 600 @ $22.00 15 700 @ $23.00 20 1,800 @ $24.00 27 700 @ $25.00 The company uses the periodic inventory accounting system. The December-end inventory consists of 1,200 units. Based on this information, find
- cost of goods sold under the LIFO method (2 points)
- cost of ending inventory under the FIFO method (2 points)
- per unit cost of inventory under the weighted average cost method (2 points)
Please highlight your final answer number for each question in yellow.
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