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Bingo Company had a beginning inventory on January 1 of 150 units of Product at...

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Question

Accounting

Bingo Company had a beginning inventory on January 1 of 150 units of Product at a cost of $20 per unit
During the year, the following purchases were made:
Date Units Price
15-Mar 400 21.00
20-Jul 250 22.00
4-Sep 350 24.00
2-Dec 100 30.00
1,000 Units were sold druing the year.
Bingo Co computes ending inventory and COGS under the periodic inventry method.
INSTRUCTIONS:
(A) Determine the cost of product available for sale
(B) Determine the ending inventory value and cost of goods using each of the following cost flow methods:
FIFO
LIFO
Average Cost

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