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A company purchases inventory during the year in four batches, with unit and price amounts...

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Accounting

A company purchases inventory during the year in four batches, with unit and price amounts shown below: Batch 1 9,500 units @ $2.10 per unit Batch 2 4,300 units @ $2.08 per unit Batch 3 3,600 units @ $2.04 per unit Batch 4 7,200 units @ $2.01 per unit 10,800 units were sold after Batch 2 was purchased, while 3,400 units were sold after Batch 3 was purchased. Required: -1. Calculate cost of goods sold and ending inventory under the LIFO method, using the perpetual inventory system. -2. Calculate cost of goods sold and ending inventory under the LIFO method, using the periodic inventory system.

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