Exercise 8-10 a-c Inventory information for Part 311 of Swifty Corp. discloses the following information...
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Exercise 8-10 a-c Inventory information for Part 311 of Swifty Corp. discloses the following information for the month of June. June 1 11 20 Balance Purchased Purchased 298 units @ $11 802 units @ $13 497 units @ $14 June 10 15 27 Sold Sold Sold 200 units @ $26 497 units @ $27 300 units @ $29 Assuming that the periodic inventory method is used, compute the cost of goods sold and ending inventory under (1) LIFO and (2) FIFO. (1) LIFO (2) FIFO Cost of Goods Sold Ending Inventory $ Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the value of the ending inventory at LIFO? The ending inventory at LIFO Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the gross profit if the inventory is valued at FIFO? Gross Profit (FIFO) s Click if you would like to Show Work for this question: Open Show Work
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