Question: In its first month of operations Bethke Company made three

In its first month of operations, Bethke Company made three purchases of merchandise in the following sequence: (1) 300 units at $6, (2) 400 units at $7, and (3) 200 units at $8. Assuming there are 360 units on hand, compute the cost of the ending inventory under the
(a) FIFO method
(b) LIFO method. Bethke uses a periodic inventory system.

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  • CreatedJanuary 30, 2014
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