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Calculate ending inventory and cost of goods sold in dollars

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Reference no: EM132723696

Inventory data for Wilson Corporation for August 2020 are as follows:

August 1 Balance 75 units at $100 each

August 12 Purchase 70 units at $105 each

August 16 Sale 65 units

August 21 Purchase 80 units at $108 each

August 30 Sale 75 units

Required:

Problem 1: Calculate the ending inventory and cost of goods sold in dollars, using:

  1. LIFO (Perpetual)
  2. FIFO (Perpetual)
  3. Average (Perpetual)

Reference no: EM132723696

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