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  3. the following data regarding purchases and sales o

The following data regarding purchases and sales of a commodity were taken from the related...

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Accounting

The following data regarding purchases and sales of a commodity were taken from the related perpetual inventory account:

June 1 Balance 25 units at 60$

6 Sale 20 units

8 Purchase 20 units at 61$

16 Sale 10 units

20 Purchase 20 units at $62

23 Sale 25 units

30 purchase 15 units at $63

Calculate the cost of the ending inventory at june 30, using (1) the first-in, first out (FIFO) method and (2) the last-in, first out (LIFO) method. Identify the quantity, unit price, and total cost of each lot in the inventory

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