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During April, Leary Company sold 1000 units of Product Q. Product Q?s beginning inventory and purchases during

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During April, Leary Company sold 1000 units of Product Q. Product Q?s beginning inventory and purchases during the month are shown below. (Assume the periodic inventory system is used.);April 1 Beginning inventory 200 units @ $1;April 5 Purchases 200 units @ $2;April 10 Purchases 200 units @ $3;April 15 Purchases 200 units @ $4;April 20 Purchase 200 units @ $5;April 25 Purchase 200 units @ $6;Required;Compute the cost of the ending inventory under each of three methods;A. Average-cost;B. LIFO, and;C. FIFO. Explain how you calculated each answer.;Explain how you calculated each answer and include your explanations in the spreadsheet. To insert explanations, right-click any item (cell) in the desired field and click Insert Comment to insert your explanation.

 

Paper#79673 | Written in 18-Jul-2015

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