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Compute the cost of ending inventory under FIFO method

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Question - In its first month of operations, Waterway Company made three purchases of merchandise in the following sequence: (1) 350 units at $6, (2) 480 units at $7, and (3) 240 units at $8.

Assuming there are 360 units on hand, compute the cost of the ending inventory under the FIFO method and LIFO method. Waterway uses a periodic inventory system.

Reference no: EM132726997

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