Assuming use of fifo-lifo-weighted average

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Reference no: EM131212024

Jones Company started the year with no inventory, during the year it purchased two identical inventory items at different times. The first item cost $1,060 and the other $1,380 jones sold one of the items during the year how much product cost would be allocated to cost of goods sold and ending inventory on the tear end financial statement assuming use of FIFO,LIFO,WEIGHTED AVERAGE?

Reference no: EM131212024

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