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August 20, 2014

Homework Help: accounting

Posted by milania on Sunday, October 21, 2012 at 8:38pm.

In its first month of operations, Danielle Company made three purchases of merchandise in the following sequence: (1) 161 units at $17, (2) 414 units at $18, and (3) 115 units at $19.

Assuming there are 271 units on hand, compute the cost of the ending inventory under the FIFO method and LIFO method. Danielle uses a periodic inventory system.

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