Question: The Evening Out Clothing Store values its inventory using the retail inventory method. The following data are available for the month of November 2011: Compute

The Evening Out Clothing Store values its inventory using the retail inventory method. The following data are available for the month of November 2011:

Compute the estimated inventory at November 30, 2011, assuming:
1. FIFO
2. LIFO
3. Averagecost

Cost Retail Inventory, November l Purchases Sales $53,800 80,000 54,304 220,000 244.000

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