The table following information is available about Grapevine's April 2010 inventory transactions.
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Required:
A) Assume that Grapevine uses a FIFO perpetual inventory system. Compute Grapevine's cost of goods sold and ending inventory in dollars at April 30, 2010.
B) Assume that Grapevine uses a LIFO perpetual inventory system. Compute Grapevine's cost of goods sold and ending inventory in dollars at April 30, 2010.
C) Assume that Grapevine uses a moving-average inventory system. Compute Grapevine's cost of goods sold and ending inventory in dollars at April 30, 2010. Round per-unit computations to the nearest penny.
Correct Answer:
Verified
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