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Zippy Shoe Company uses a periodic inventory system. Zippy purchased 415 pairs of shoes at $69 each in June, 985 pairs in August at $71
Zippy Shoe Company uses a periodic inventory system. Zippy purchased 415 pairs of shoes at $69 each in June, 985 pairs in August at $71 each, and 650 pairs in December at $74 each. Zippy sold 1,860 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
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