Question: Current Attempt in Progress Vaughn Co. uses a periodic inventory system. Its records show the following for the month of May, in which 73 units
Current Attempt in Progress Vaughn Co. uses a periodic inventory system. Its records show the following for the month of May, in which 73 units were sold. Units 37 May 1 15 24 Unit Cost $10 13 Inventory Purchases Purchases Totals Total Cost $370 338 448 26 32 95 14 $1,156 Compute the ending inventory at May 31 and cost of goods sold using the FIFO and LIFO methods. LIFO Ending inventory at May 31 $ FIFO $ Cost of goods sold $ $
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