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Zippy Shoe Co. uses a periodic inventory system. Zippy purchased 425 pairs of shoes at $60 each in June, 965 pairs in August at $62
Zippy Shoe Co. uses a periodic inventory system. Zippy purchased 425 pairs of shoes at $60 each in June, 965 pairs in August at $62 each, and 630 pairs in December at $65 each. Zippy sold 1,900 pairs of shoes during the year. Required: Calculate the company's ending inventory and cost of goods sold using the each of following inventory costing methods. a. FIFO b. LIFO c. Weighted Average Complete this question by entering your answers in the tabs below. Required A Required B Required C FIFO Cost of Goods Sold Ending Inventory Required A Required B > Required A Required B Required C LIFO Cost of Goods Sold Ending Inventory Required A Required B Required C ---- Weighted Average (Round your intermediate calculations to 2 decimal places and final answers to the nearest dollar amount.) Cost of Goods Sold Ending Inventory
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