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Riverbed Vision Inc, opened for business on Jan 1, and uses a perpetual inventory system....

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Accounting

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Riverbed Vision Inc, opened for business on Jan 1, and uses a perpetual inventory system. During January, the company had the following purchases and sales for one of its products: Determine the cost of goods sold and cost of ending inventory using (1) FIFO and (2) average cost. Ignore the effect of income tax. (Round overage cost answers to 2 decimal places, e.g. 5,275.75.)

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