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Inventory information for Part 311 of Bramble Corp. discloses the following information for the month of...

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Accounting

Inventory information for Part 311 of Bramble Corp. disclosesthe following information for the month of June.

June 1

Balance

303 units @ $14

June 10

Sold

201 units @ $34

11

Purchased

798 units @ $17

15

Sold

498 units @ $35

20

Purchased

497 units @ $18

27

Sold

299 units @ $38

Assuming that the perpetual inventory method is used and costsare computed at the time of each withdrawal, what is the value ofthe ending inventory at LIFO?

Assuming that the perpetual inventory method is used and costsare computed at the time of each withdrawal, what is the grossprofit if the inventory is valued at FIFO?

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