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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, Sheridan Company made three purchases of merchandise in the following sequence: (1) 350 units at $6, (2) 410 units at $7, and (3) 220 units at $8.

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

Reference no: EM132945963

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