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Stewart Company sold 180 units @ $320 each on October 31, 2012. Cash selling and administrative expenses were $15,000. The following information is also available:
The company's income tax rate is 40%. Required: a) Verify the amount of cost of goods sold using: FIFO LIFO Weighted Average
b) Verify the amount of ending inventory using: FIFO LIFO Weighted Average
c) Verify the company's net income (after income taxes) using: FIFO LIFO
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