Question

Assume that North Country Bike World bought and sold a line of mountain bikes during August as follows:


North Country Bike World uses the perpetual inventory system.

Requirements
1. Compute the cost of ending inventory under FIFO.
2. Compute the cost of ending inventory under LIFO.
3. Which method results in a higher cost of endinginventory?


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  • CreatedApril 29, 2014
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