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Question - The inventory data for an item for November are:
Nov. 1 Inventory 20 units at $19
Nov. 4 Sold 10 units10 Purchased 30 units at $20
Nov. 17 Sold 20 units30 Purchased 10 units at $21
Using a perpetual system compute the following:
1. Ending inventory and Cost of Goods Sold using the Weighted-average cost method (rounded) is?
2. Ending inventory and Cost of Goods Sold using the FIFO method is?
3. Ending inventory and Cost of Goods Sold using the LIFO method?
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