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I would appreciate any help I could get on these. This stuff really confuses me. Aug. 1 Balance 200@$3.20 Aug. 2 150@$5.50 Sales Aug. 4 550@$3.10 Purchases Aug. 5 ...
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When using the fifo or lifo method to compute cost of goods sold and ending inventory, how do you determine what goes in the ending inventory column and what goes into the cogs column. Example: Opening Inv. 9,000 units@ $16 Purchase 4/16: 27,000 units @ $18 Purchase 7/28: 30,000 units @ $23 ... View more questions Search
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