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Inventory valuation

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Question;Inventory valuationDuring June, the following changes in inventory item #27 took place:June 1Balance 1,400 units @ $2414Purchased 800= units @ $3624Purchased700 units @ $308Sold400 units @ $5010Sold1,000 units @ $4029 Sold600 units @ $44Perpetual inventories are maintained.InstructionsWhat is the cost of the ending inventory for item #27 under the following methods? (Show calculations.)=(a) FIFO. (b) LIFO.(c) Moving average

 

Paper#45170 | Written in 18-Jul-2015

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