Essay
Hixenbaugh Company uses the periodic inventory system to account for inventories. Information related to Hixenbaugh Company's inventory at October 31 is given below: 
On October 31 there were 500 units on hand.
Instructions
a. Show calculations to value the ending inventory using FIFO.
b. Show calculations to value the ending inventory using average.
Correct Answer:
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a. Under FIFO, the cost of the units rem...View Answer
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Correct Answer:
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