Question: Problem 6-14 Use the following information. Dec. 1 Beginning Inventory 70 units @ $28 Dec. 9 Purchases 30 units @ $32 Dec. 17 Sales 25

Problem 6-14 Use the following information.

Dec. 1 Beginning Inventory 70 units @ $28

Dec. 9 Purchases 30 units @ $32

Dec. 17 Sales 25 units

Dec 22 Purchases 15 units @ $36

Dec 27 Sales 40 units

Calculate ending inventory on (a) a LIFO basis, (b) a FIFO basis, and (c) an average-cost basis. Assume a perpetual inventory system. For the Average-cost method, round per unit calculations to the nearest cent. Round your answer to the nearest dollar. Ending Inventory a. LIFO $ b. FIFO $ c. Average-Cost $

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