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Houston Company uses the perpetual inventory system has the following units and costs: Inventory,...

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Accounting

Houston Company uses the perpetual inventory system has the following units and costs:

Inventory, January 1 8,000 units $11unit cost

Purchase, June 20 13,000 units $12 unit cost

Purchase, November 8 5,000 units $13 unit cost

If 9,000 units are on hand at December 31, what is the cost of the ending inventory under FIFO? What is the cost of the ending inventory under LIFO?

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