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Compute the cost of the ending inventory under FIFO method

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Question - In its first month of operations, Weatherall Company made three purchases of merchandise in the following sequence: (1) 140 units at $7, (2) 460 units at $8, and (3) 130 units at $9.

Assuming there are 380 units on hand, compute the cost of the ending inventory under the FIFO method and LIFO method. Weatherall uses a periodic inventory system.

Reference no: EM132448897

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