Question: Simple Plan Enterprise uses a periodic inventory system it records showed the following Inventory December 31 using FIFO rightarrow 52 Units @ $21 = $1,

 Simple Plan Enterprise uses a periodic inventory system it records showed

Simple Plan Enterprise uses a periodic inventory system it records showed the following Inventory December 31 using FIFO rightarrow 52 Units @ $21 = $1, 092 Inventory December 31 using LIFO rightarrow 52 Units @ $17 = $884 Compute the number and cost of goods available for sale the cost of ending Inventory, and the cost of goods sold under FIFO and LIFO. Compute the inventory turnover ratio your answers to 2 decimal places.) under the FIFO and UFO inventory costing methods

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