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Marigold Corporation began operations on December 1, 2016. The only inventory transaction in 2016 was...

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Accounting

Marigold Corporation began operations on December 1, 2016. The only inventory transaction in 2016 was the purchase of inventory on December 10, 2016, at a cost of $20 per unit. None of this inventory was sold in 2016. Relevant information for fiscal 2017 is as follows: Ending inventory units:
December 31, 2016 120
December 31, 2017, by purchase date
Dec. 2, 2017 120
July 20, 2017 31 151
During 2017, the following purchases and sales were made:
Purchases Sales
Mar. 15 350 units at $26 Apr. 10 220
July 20 350 units at $28 Aug. 20 310
Sept. 4 260 units at $30 Nov. 18 180
Dec. 2 120 units at $30 Dec. 12 339
The company uses the periodic inventory method.
Determine ending inventory under (1) specific identification, (2) FIFO, (3) LIFO, and (4) average-cost.

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