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What is amount of the ending inventory using FIFO method

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Reference no: EM133117209

Question - AAA Company uses a periodic inventory system and has the following information regarding its inventory:

Beginning Inventory 250 units @ 19 $4,750

Purchase on January 25 350 units @ 20 $7000

Purchase on March 15 250 units @ 21 $5250

Purchase on October 2 450 units @ 22 $9900

Goods available for sale $26,900

There are 600 units in ending inventory. What is the amount of the ending inventory using the FIFO method?

There are 600 units in ending inventory. What is the amount of the ending inventory using the LIFO method?

Reference no: EM133117209

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