Compute the cost of ending inventory under fifo method

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Reference no: EM131287803

In its first month of operations, Marigold Corp. made three purchases of merchandise in the following sequence: (1) 240 units at $5, (2) 340 units at $7, and (3) 440 units at $8. Assuming there are 140 units on hand at the end of the period, compute the cost of the ending inventory under (a) the FIFO method and (b) the LIFO method. Marigold Corp. uses a periodic inventory system.

Cost of Ending Inventory: FIFO: LIFO:

Reference no: EM131287803

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Compute the cost of ending inventory under fifo method : In its first month of operations, Marigold Corp. made three purchases of merchandise in the following sequence: (1) 240 units at $5, (2) 340 units at $7, and (3) 440 units at $8. Assuming there are 140 units on hand at the end of the period, compute ..

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