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Esquire Inc. uses the LIFO method to report its inventory Inventory at January 1, 2021,...

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Accounting

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Esquire Inc. uses the LIFO method to report its inventory Inventory at January 1, 2021, was $780,000 (39,000 units at $20 each During 2021, 118,000 units were purchased, all at the same price of $29 per unit. 121000 units were sold during 2021 Calculate the December 31, 2021, ending inventory and cost of goods sold for 2021 based on a periodic inventory system Cont of Goods Available for Sale Cost # of units per Cost of Goods unit Available 39,000 $ 20 $ 780,000 118.000 29 3.422.000 157,000 $ 4,202.000 COGS. Periodic LIFO Cost of units sold Cost of Goods per Sold unit $ 20 s 0 $20 0 0 $ 0 Ending Inventory. Periodic UFO Cost of units in ending Ending per Inventory Inventory unit $ 20 $ 0 $ 29 0 s Beginning inventory Purchases Total

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