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tracyleerich
Feb 26, 2009, 09:25 AM
The following units are available for sale during the year:

January 1-Beginning Inventory 10 units @<hidden> $110
April 21-Purchases 18 units @<hidden> $120
August 15-Purchases 15 units @<hidden> $125
November 20-Purchases 12 units @<hidden> $128
December 31-Ending Inventory 14 units

Assuming a periodic inventory system is used, determine the inventory cost and cost of merchandise sold by three methods using the following format.

Please figure the cost of goods sold and the cost of the ending inventory for (a)FIFO,(b)LIFO,and(c) Average Cost
(round answers to nearest dollar)
pready
Mar 1, 2009, 11:04 AM
Do your work first, then if you have a question we will try to help you. Use your textbook to work this out yourself.