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Bramble Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was3sets at $460each. On January 10, Bramble purchased6units at $530each. The company sold2units on January 8 and5units on January 15.

(a)

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Compute the ending inventory under FIFO.

		FIFO
The ending inventory		$enter a dollar amount Correct answer

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(b)

Compute the ending inventory under LIFO.

		LIFO
The ending inventory		$enter a dollar amount

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(c)

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To compute the ending inventory under FIFO and LIFO we need to analyze the inventory transactions Be... View the full answer