Question: Inventory Costing Methods Neyman Inc. has the following data for purchases and sales of inventory: All sales were made at a sales price of
Inventory Costing Methods
Neyman Inc. has the following data for purchases and sales of inventory:
All sales were made at a sales price of $ per unit. Assume that Neyman uses a perpetual inventory system.
Required:
Compute the cost of goods sold and the cost of ending inventory using the FIFO, LIFO, and average cost methods. Note: Use four decimal places for perunit calculations and round all other numbers to the nearest dollar.
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