Question: Inventory Costing Methods - Periodic Method The Lippert Company uses the periodic inventory system. The following July data are for an item in Lippert's inventory:
Inventory Costing MethodsPeriodic Method
The Lippert Company uses the periodic inventory system. The following July data are for an item in Lippert's inventory:
July Beginning inventory units @ $ per unit
July Purchased Inventory units @ $ per unit
July Sold Inventory units @
Julu Purchased Inventory units @ $ per unit
Calculate the cost of goods sold for July and ending inventory at July using a FIRSTIN FIRST OUT, b lastin firstout, and c the weightedaverage cost methods. Round your final answers to the nearest dollar.
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