Question: Vaughn Appliance uses a perpetual inventory system. For its flat - screen television sets, the January 1 inventory was 3 sets at$ 5 0 2

Vaughn Appliance uses a perpetual inventory system. For its flat-screen television sets, the January 1 inventory was 3 sets at$502 each. On January 10, Vaughn purchased 6 units at $600 each. The company sold 2 units on January 8 and 5 units on January 15.(a)Your AnswerCorrect Answer (Used)Compute the ending inventory under FIFO.FIFOThe ending inventory FIFO=1,200b)The ending inventory LIFO =1,102c) computer the ending inventory under moving-average costThe ending inventory is ____

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