Solution-What is the total cost of the ending inventory

What is the total cost of the ending inventory

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Reference no: EM133069160

Question - FIFO and LIFO costs under perpetual inventory system - The following units of an item were available for sale during the year:

Beginning inventory	8,300	units at $180
Sale	5,700	units at $300
First purchase	14,600	units at $183
Sale	13,300	units at $300
Second purchase	15,100	units at $187
Sale	13,800	units at $300

The firm uses the perpetual inventory system, and there are 5,200 units of the item on hand at the end of the year.

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.

Required -

1. What is the total cost of the ending inventory according to FIFO?

2. What is the total cost of the ending inventory according to LIFO?

Reference no: EM133069160

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What is the total cost of the ending inventory

Reference no: EM133069160

Reference no: EM133069160

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