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1. FIFO and LIFO-Periodic and Perpetual The following is a record of Cannondale Company's transactions for Boston Teapots for the month of May 2010.
(a) Assuming that perpetual inventories are not maintained and that a physical count at the end of the month shows 510 units on hand, what is the cost of the ending inventory using?
(1) FIFO and
(2) LIFO?
(b) Assuming that perpetual records are maintained and they tie into the general ledger, calculate the ending inventory using (1) FIFO and (2)LIFO.
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Phyllis maintained an IRA
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How much amortization expense will be on the consolidated financial statements for the year ended on December 31, 2009 related to the acquisition of Green?
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