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ABC Company had the following purchases and sales in June. What is the ending...

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Accounting

  1. ABC Company had the following purchases and sales in June. What is the ending June inventory balance using the periodic FIFO and perpetual LIFO methods?

Date Action Units Cost

June 1 Beg. Inventory 100 $2

June 6 Sale 50

June 9 Purchase 200 $4

June 15 Sale 175

June 20 Purchase 100 $5

June 25 Sale 125

  1. ABC Company had the following purchases and sales in June. What is the ending June inventory balance using the periodic FIFO and perpetual LIFO methods?

Date Action Units Cost

June 1 Beg. Inventory 100 $2

June 6 Sale 50

June 9 Purchase 200 $4

June 15 Sale 175

June 20 Purchase 100 $5

June 25 Sale 125

  1. ABC Company had the following purchases and sales in June. What is the ending June inventory balance using the periodic FIFO and perpetual LIFO methods?

Date Action Units Cost

June 1 Beg. Inventory 100 $2

June 6 Sale 50

June 9 Purchase 200 $4

June 15 Sale 175

June 20 Purchase 100 $5

June 25 Sale 125

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