What would the cost of goods sold and ending inventory be

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Harris Inc. had the following balances and transactions during 2014:

Beginning Merchandise Inventory as of

January 1, 2014

100 units as $75

March 10

Sold 50 units

June 10

Purchased 200 units at $80

October 30

Sold 150 units

What would the cost of goods sold and ending inventory be as reported on the income statement for the year ending December 31, 2014 as reported on the income statement for the year ending December 31, 2014 if the perpetual, last-in, first-out (LIFO) costing method is used? (Round your answer to two decimal places)

Reference no: EM13581234

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