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Assigning cost to inventory-perpetual systems

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Solution Summary

The solution calculates the cost value of ending inventory under each of five scenarios, and shows all the computations in detail.

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Purchases:
Dec 7, 10 units at $6
Dec 14, 20 units at $12
Dec 21, 15 units at $14

Sales:
Dec 15, 15 units

Units remaining in inventory = 30 units

Inventory cost of 30 units:

(a) FIFO = (15 ...

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