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Compute the cost of the ending inventory

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Question - In its first month of operations, Bonita Company made three purchases of merchandise in the following sequence: (1) 330 units at $6, (2) 490 units at $7, and (3) 210 units at $8.

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

In its first month of operations, Concord Company made three purchases of merchandise in the following sequence: (1) 320 units at $6, (2) 430 units at $7, and (3) 250 units at $8.

Calculate the average unit cost.

Reference no: EM132681572

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