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Compute the cost of the ending inventory

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Question - In its first month of operations, Swifty Corporation made three purchases of merchandise in the following sequence: (1) 205 units at $9, (2) 410 units at $10, and (3) 405 units at $11.

Assuming there are 110 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Swifty uses a periodic inventory system.

Reference no: EM133020914

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