3. In its first month of operations, Quilt Co began with an inventory of 300...
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Accounting
3. In its first month of operations, Quilt Co began with an inventory of 300 units at $8. They made three purchases of merchandise in the following order: 300 units at $8, 350 units at $7 and 250 units at $6. There are 350 units left on hand at the end of the period. Calculate the cost of goods sold and ending inventory under a) FIFO, b) Average Cost and c) LIFO
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