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Compute the ending inventory under the perpetual system

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Reference no: EM132663984

Question - The following is a record of Sheffield Company's transactions for the month of May 2017.

May 1 Balance 420 units @$19 May 10 Sale 320 units @$37

May 12 Purchase 660 units @$25 20 Sale 620 units @ $37

Required - Compute the ending inventory under the perpetual system using FIFO and LIFO.

Reference no: EM132663984

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