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Your answer is partially correct. Cheyenne Corp. uses a periodic inventory system. Its records show the following for the month of May, in which 124
Your answer is partially correct. Cheyenne Corp. uses a periodic inventory system. Its records show the following for the month of May, in which 124 units were sold. Date Explanation Units Unit Cost Total Cost May 1 Inventory 57 $10 $570 15 Purchases 48 13 624 24 Purchases 67 14 938 Totals 172 $2,132 Compute the ending inventory at May 31 and cost of goods sold using the FIFO, LIFO, and average-cost methods. (Round per unit cost to 3 decimal places, eg. 15.647 and final answers to 0 decimal places, eg. 5,125.) FIFO LIFO Average-cost Ending inventory at May 31 $ 672 $ 480 $ 12.395 Cost of goods sold $ $ $ e Textbook and Media Assistance Used Save for Later Attempts: 1 of 3 used Submit
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