The Company had the following Inventory transactions during the month of May 2017 Calculate the...
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The Company had the following Inventory transactions during the month of May 2017 Calculate the ending Inventory balance under the FIFO Method and Under the LIFO method 1-May-17 FIFO LIFO Opening Inventory Balance 15,000 units ($3 each) 5-May-17 Purchased 5,000 units ($4 each) 7-May-17 Sold (3,000 units) 16-May-17 Purchased 8,000 units ($5 each) 21-May-17 Sold (15,000 units) 29-May-17 Sold (7,000 units) 31-May-17 Ending Balance uthoor ended 12/31/18
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