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Use the Following Information to Calculate Ending Inventory on (A)a

Question 88

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Use the following information to calculate ending inventory on (a)a LIFO basis, (b)a FIFO basis,and (c)an average-cost basis.Assume a perpetual inventory system.
Use the following information to calculate ending inventory on (a)a LIFO basis, (b)a FIFO basis,and (c)an average-cost basis.Assume a perpetual inventory system.

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a.LIFO: 50 × $28 = $1,400.00
b.FIFO: (5 ...

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