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The following information is available concerning the inventory of Harvey Company in 2019:
Required:
Question 1. Compute the dollar amount of ending inventory under the FIFO method.
Question 2. Compute the dollar amount of cost of goods sold under the LIFO method.
Question 3. Compute the dollar amount of cost of goods sold under the Average Cost method
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The Hamada Company sales for 2016 totaled $151,000 and purchases totaled $87,000. Selected January 1, 2016, balances were: accounts receivable, $18,600; inventory, $14,300; and accounts payable, $10,800. December 31, 2016, balances were: accounts rec..
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