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FIFO, LIFO Costs Under Perpetual Inventory System
The following units of a particular item were available for sale during the year:
Beginning inventory 28 units @ $50 Sale 24 units @ $75 First purchase 25 units @ $53 Sale 7 units @ $77 Second purchase 13 units @ $56 Sale 12 units @ $77 The firm uses the perpetual inventory system, and there are 23 units of the item on hand at the end of the year.
a. What is the total cost of the ending inventory according to FIFO? b. What is the total cost of the ending inventory according to LIFO?
Prepare the essential journal entries What is the Dollar Value of Cost of Goods Sold at January 31? What is the Dollar Value of Ending Inventory at January 31?
Specified the demand for 1,500 Walnut Tables what is the manufacturing time per processing step and in total to manufacture 1,500 Walnut Tables What manufacturing step is a restriction for the current demand
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