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Zippy Shoe Co. uses a periodic inventory system. Zippy purchased 405 pairs of shoes at $68 each in June, 970 pairs in August at $70
Zippy Shoe Co. uses a periodic inventory system. Zippy purchased 405 pairs of shoes at $68 each in June, 970 pairs in August at $70 each, and 620 pairs in December at $73 each. Zippy sold 1,890 pairs of shoes during the year.
Zippy Shoe Co. uses a periodic inventory system. Zippy purchased 405 pairs of shoes at $68 each in June, 970 pairs in August at $70 each, and 620 pairs in December at $73 each. Zippy sold 1,890 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 Complete this question by entering your answers in the tabs below. 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 InventoryStep by Step Solution
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