Assume your company has the following inventory changes during the year: Beginning inventory 20 units...
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Accounting
Assume your company has the following inventory changes during the year: Beginning inventory 20 units valued at $7,500 each January purchases 10 units at $8,500 each April purchases 15 units at $8,750 each Total units used in May 30 (Note: There were no units used until May, only purchases) Calculate the value of the ending inventory and the value of the inventory used (the inventory expense) for the year using both the FIFO and LIFO methods.
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