35. Harlan Corporation uses the periodic inventory system and the following information about their laptop computers is
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35. Harlan Corporation uses the periodic inventory system and the following information about their laptop computers is available:
Date | Transaction | Number of Units | Cost per unit |
01/01 | Beginning Inventory | 100 | $800 |
05/05 | Purchase | 200 | $900 |
08/10 | Purchase | 300 | $1000 |
10/15 | Purchase | 200 | $1050 |
During the year, 600 laptop computers were sold. What were ending inventory and cost of goods sold on 12/31 under the LIFO cost flow assumption?
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