The following are the inventory records of the Garret Company:
Ending inventory consists of 30 units from the July purchase.
Note: The company uses a periodic inventory system.
Required:
Calculate ending inventory and cost of sales,using: (a)FIFO, (b)LIFO, (c)average,and (d)specific identification.
Correct Answer:
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Ending Inventory
Cost of Sales
30...
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