Question: Tool City does not maintain perpetual inventory records. Based on a physical count, 150 cordless screwdrivers were on hand at January 31,201. Required: a. What

Tool City does not maintain perpetual inventory records. Based on a

Tool City does not maintain perpetual inventory records. Based on a physical count, 150 cordless screwdrivers were on hand at January 31,201. Required: a. What is the cost of the inventory at January 31,201 under the FIFO method? b. What is the cost of the inventory at January 31,201 under the LIFO method? explanation for the fact that only 145 cordless screwdrivers were actually counted

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