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Compute the ending inventory under the perpetual system

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Reference no: EM132419929

The following is a record of Skolnick Company's transactions for the month of May 2017.

May 1 May 12

Balance 400 units @ $20 Purchase 600 units @ $25

May 10 May 20

Sale 300 units @ $38 Sale 540 units @ $38

Compute the ending inventory under the perpetual system using FIFO and LIFO.

Reference no: EM132419929

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