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A company reports the following beginning inventory and purchases,and it ends the period with 30 units in inventory. Beginning inventory 100 units at $10 cost per unit Purchase 1 40 units at

A company reports the following beginning inventory and purchases, and it ends the period with 30 units in inventory.

Beginning inventory 

100 units at $10 cost per unit

Purchase 1

40 units at $12 cost per unit

Purchase 2

20 units at $14 cost per unit

a. Compute ending inventory using the FIFO periodic system.

b. Compute cost of goods sold using the LIFO periodic system.

May 12 2020 View more View Less

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