In its first month of operations. Wildhorse Co. made three purchases of merchandise in the...
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Accounting
In its first month of operations. Wildhorse Co. made three purchases of merchandise in the following sequence: (1) 380 units at $9. (2) 560 units at $10, and (3) 425 units at $11. Assuming there are 315 units on hand, compute the cost of the ending imventory under the (a) FIFO method and (b) LIFO method. Wildhorse uses a periodic inventory system
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