Best Yet Electronic Center began December with 80 units of merchandise inventory that cost $80...
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Best Yet Electronic Center began December with 80 units of merchandise inventory that cost $80 each. During December, the store made the following purchases (Click the icon to view the purchases.) Best Yet uses the periodic inventory system, and the physical count at December 31 indicates that 85 units of merchandise inventory are on hand Read the requirements Requirement 1. Determine the ending merchandise inventory and cost of goods sold amounts for the December financial statements using the FIFO, LIFO, and weighted-average inventory costing methods
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