The following information is available for Quest Company: 
Required:
Answer the following questions for Quest Company:
a.If FIFO is in use, what is the ending inventory in dollars?
b.If periodic LIFO is in use, what is the cost of goods sold?
c.If moving average is in use, what is the ending inventory in dollars (round calculations to the nearest cent)?
d.If weighted average is in use, what is the ending inventory in dollars (round unit cost to the nearest cent)?
Correct Answer:
Verified
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