Determine the cost of assigned

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Reference no: EM13950534

Martines Co. Reported the following current-year data for its only product. The company uses a periodic inventory system, and its ending inventory consists of 600 units-- 200 from each of the last three purchases.

Jan 1	Beginning inventory	300 units	@ $4.00	=	$ 1,200
Mar 7	Purchase	640 units	@ $4.25	=	$2,700
July 28	Purchase	1,280 units	@ $5.00	=	$6,400
Oct 3	Purchase	1,160 units	@ $7.00	=	$8,120
Dec 19	Purchase	720 units	@ $ 8.90	=	$6,408

	Totals	4,100 units			$24,848

Determine the cost of assigned to ending inventory and to cost of goods sold for the following (Do not round intermediate calculations and round your answers to 2 decimal places.)

		Ending inventory	Cost of goods sold
(a)	Specific identification
(b)	weighted average
(c)	FIFO
(d)	LIFO

Reference no: EM13950534

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