Total cost of the ending inventory, Accounting Basics

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Total cost of the ending inventory

Beginning inventory

100 units at $60
Sale 75 Units at $112
First purchase 155 units at $65
Sale 135 units at $112
Second purchase 200 units at $72
Sale 175 units at $112

The firm uses the perpetual inventory system., and there are 70 units of the item on hand at the end of the year. What is the total cost of the ending inventory accorting to

a) FIFO

b) LIFO?

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Accounting Basics: Total cost of the ending inventory

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Accounting Basics: Total cost of the ending inventory

Reference No:- TGS071892

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : Current or back issue of any business-oriented magazine

Q : Draw a diagram to show the change in the coffee market

Q : What are the equivalent units for materials

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: Total cost of the ending inventory

Reference No:- TGS071892

Recent Questions Asked Accounting Basics

Q : Current or back issue of any business-oriented magazine

Q : Draw a diagram to show the change in the coffee market

Q : What are the equivalent units for materials

Q : Five business-level strategies

Q : Total cost of the ending inventory

Q : Concept of corporate social responsibility

Q : Mixture has a specific heat capacity

Q : Chance of protecting thousands of innocent investors

Q : Motivating and empowering employees

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