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Compute the cost of the ending inventory

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Question - In its first month of operations, Oriole Company made three purchases of merchandise in the following sequence: (1) 330 units at $8, (2)490 units at $9, and (3) 200 units at $10. Assuming there are 420 units on hand, compute the cost of the ending inventory under the (a) FIFO method and (b) LIFO method. Oriole uses a periodic inventory system.

Reference no: EM133134003

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