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Compute the cost of the ending inventory under the fifo

Brief Exercise 6-3 In its first month of operations, Weatherall Company made three purchases of merchandise in the following sequence: (1) 180 units at $5, (2) 440 units at $6, and (3) 130 units at $7.

Assuming there are 330 units on hand, compute the cost of the ending inventory under the FIFO method and LIFO method. Weatherall uses a periodic inventory system.

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Accounting Basics: Compute the cost of the ending inventory under the fifo

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