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1. FIFO and LIFO-Periodic and Perpetual The following is a record of Cannondale Company's transactions for Boston Teapots for the month of May 2010.
(a) Assuming that perpetual inventories are not maintained and that a physical count at the end of the month shows 510 units on hand, what is the cost of the ending inventory using?
(1) FIFO and
(2) LIFO?
(b) Assuming that perpetual records are maintained and they tie into the general ledger, calculate the ending inventory using (1) FIFO and (2)LIFO.
in the month of april a department had 500 units in the beginning work in process inventory that were 60 complete.
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the west company uses the percent of ending armethod. credit sales for the yearwere 5000000. ending accounts receivable
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