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    Compute values for Periodic FIFO, LIFO, and average cost

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    Compute inventory value based on the following transactions:

    Purchases Sales
    4/1 (beginning balance) 700 @ $5.50 4/3 500 @ $ 9.50
    4/4 1,500 @ $6.50 4/9 1,400 @ $10.00
    4/8 800 @ $6.40 4/11 600 @ $11.50
    4/14 1,200 @ $6.50 4/23 1,200 @ $11.00
    4/20 700 @ $6.60 4/27 900 @ $11.50
    5/30 500 @ $6.75

    1. Compute values for Periodic FIFO, LIFO, and average cost
    2. Compute values for Perpetual FIFO, LIFO and average cost

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    https://brainmass.com/business/inventory/compute-values-for-periodic-fifo-lifo-and-average-cost-297682

    Solution Summary

    This solution helps compute values for periodic FIFO, LIFO and average cost.

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