Determine the costs assigned to the december 31


Trader sells 15 units for $25 each on December 15. Eight of the sold units are from the December 7 purchase and seven are from the December 14 purchase. Trader uses a perpetual inventory system.Determine the costs assigned to the December 31 ending inventory when costs are assigned based on (a) FIFO, (b) LIFO, (c) weighted average, and (d ) specific identification

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Accounting Basics: Determine the costs assigned to the december 31
Reference No:- TGS082410

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