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Given the Following Information About Purchases and Sales During the Year

Question 23

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Given the following information about purchases and sales during the year, compute the cost to be assigned to ending inventory under each of three methods: (a) average-cost, (b) FIFO, and (c) LIFO. (Show your work.)
Assuming that a periodic inventory system is used
Given the following information about purchases and sales during the year, compute the cost to be assigned to ending inventory under each of three methods: (a) average-cost, (b) FIFO, and (c) LIFO. (Show your work.) Assuming that a periodic inventory system is used

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a. Average-cost: $1,120 ($2,80...

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