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Calculate the ending inventory

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Reference no: EM132276557

Question - Shown below is the activity for one of the products of Random Creations:

January 1 balance, 80 units at $50 $4,000

Purchases:

January 18: 40 units at $51

January 28: 40 units at $52

Sales:

January 12: 30 units

January 22: 30 units

January 31: 45 units

Required: Calculate the ending inventory and COGS, using Average Cost, FIFO and LIFO under both perpetual and period inventory systems.

Reference no: EM132276557

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