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Shellhammer Company's Inventory Records Show the Following Data for the Month

Question 154

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Shellhammer Company's inventory records show the following data for the month of September: Shellhammer Company's inventory records show the following data for the month of September: A physical inventory on September 30 shows 200 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses FIFO inventory costing and a periodic inventory system. A physical inventory on September 30 shows 200 units on hand. Calculate the value of ending inventory and cost of goods sold if the company uses FIFO inventory costing and a periodic inventory system.

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