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What is the ending inventory

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Question - If a company has 2 units in beginning inventory and it cost $4 each to make; so beginning inventory is $8. The company makes one more unit during the accounting period that costs $5 to make, so the Cost of Goods Manufactured (COGM) is $5, if the company is using Last-in First-out(LIFO) and the company sells one unit what is COGS? What is COGM an asset or expense? What is the ending inventory?

Reference no: EM132097681

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