Question: Assume that Cycle Guys bought and sold a line of

Assume that Cycle Guys bought and sold a line of mountain bikes during December as follows:
Cycle Guys uses the perpetual inventory system.
Requirements
1. Compute the cost of ending inventory under FIFO.
2. Compute the cost of ending inventory under average cost.
3. Which method results in a higher cost of ending inventory?

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  • CreatedJuly 08, 2015
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