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Business, 24.06.2021 16:30 marialuizavalen

In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise in the following order: (1) 150 units at $7 on January 1, (2) 560 units at $8 on January 8, and (3) 860 units at $10 on January 29. Assume 1,060 units are on hand at the end of the month. Calculate the cost of goods available for sale, ending inventory, and cost of goods sold under the (a) FIFO, (b) LIFO, and (c) weighted average cost flow assumptions. Assume a periodic inventory system is used

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In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merc...
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