Question: Xiong Co uses a periodic inventory system Its records show

Xiong Co. uses a periodic inventory system. Its records show the following for the month of May, in which 65 units were sold.


Instructions
Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. Prove the amount allocated to cost of goods sold under eachmethod.


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  • CreatedJanuary 30, 2014
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