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Struggling in my accounting class amp professor will not

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Reference no: EM13581135

Struggling in my accounting class & professor will not respond to my e-mails or several of my classmates =/. Taking business courses for the first time & still having trouble with this question from an old exam - professor did not provide a key or explanation as to how to do FIFO & LIFO.

The following data is provided for XYZ Company:

  • Beginning Inventory 200 units @ 10 $ 2,000
  • Purchase 350 units @ 15 5,250
  • Purchase 450 units @ 20 9,000
  • Purchase 700 units @ 25 17,500
  • Ending units in inventory are 1,250. What is the cost of ending inventory under (1) FIFO and (2) LIFO?

Reference no: EM13581135

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