Using the data in SE 3, calculate the cost of ending inventory and cost of goods sold

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Using the data in SE 3, calculate the cost of ending inventory and cost of goods sold according to the FIFO method under the periodic inventory system.


Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula                Ending Inventory Formula =...
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Principles of Accounting

ISBN: 978-1439037744

11th Edition

Authors: Needles, Powers, crosson

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