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  3. 1. precious stores has the following information a

1. Precious Stores has the following information available for 2017 when Precious sold 65 units...

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Accounting

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1. Precious Stores has the following information available for 2017 when Precious sold 65 units of inventory. inventory, December 1 Purchases, December 8 Units 75 85 Cost $25 $27 Total Cost $ 1,875 $2,295 Total 160 $4,170 a. Use the Fifo method and calculate cost of goods sold and ending inventory for December 31 Assume periodic inventory. Use the Lifo method and calculate cost of goods sold and ending inventory for December 31 Assume periodic inventory. b. If the 65 units were sold on December 5, assume Lifo and perpetual inventory Calculate cost of goods sold and ending inventory. c

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