Instructions Compute the ending inventory under (1) FIFO and (2) LIFO for a Perpetual Inventory...
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Instructions Compute the ending inventory under (1) FIFO and (2) LIFO for a Perpetual Inventory System *E6-16B Tevis Company reports the following for the month of June. Instructions (a) Calculate the cost of the ending inventory and the cost of goods sold for each cost flow assumption, using a perpetual inventory system. Assume a sale of 425 units occurred on June 15 for a selling price of $12 and a sale of 495 units on June 27 for $13.Round to the nearest dollar for inventory totals. E6-4B Stanton sells a surfboard, Flash that is popular with surfing enthusiasts. Below is information relating to the company's purchases of Flash surfboard during July. During the same month, 88 Flash surfboards were sold (40 on July 21 , and 48 on July 27 ). Instructions (a) Compute the ending inventory at September 30 and cost of goods sold using the FIFO and LIFO methods for both Perpetual and Periodic Inventory methods
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