Concord Company had 120 units in beginning inventory at a total cost of $14,400. The company...

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Concord Company had 120 units in beginning inventory at a total cost of $14,400. The company purchased 240 units at a total cost of $36,000. At the end of the year, Concord had 70 units in ending inventory. (a) Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round average-cost per unit and final answers to O decimal places, e.g. 1,250.) The cost of the ending inventory $ The cost of goods sold $ FIFO LIFO $ $ Average-cost $ A Concord Company had 120 units in beginning inventory at a total cost of $14,400. The company purchased 240 units at a total cost of $36,000. At the end of the year, Concord had 70 units in ending inventory. (a) Compute the cost of the ending inventory and the cost of goods sold under FIFO, LIFO, and average-cost. (Round average-cost per unit and final answers to O decimal places, e.g. 1,250.) The cost of the ending inventory $ The cost of goods sold $ FIFO LIFO $ $ Average-cost $ A

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To determine the cost of ending inventory and the cost of goods sold under different inventory valuation methods lets calculate them using FIFO LIFO and averagecost methods FIFO FirstIn FirstOut Under ... View the full answer