Fifo/Lifo review: Alley Company sells many products. Clocks is one of its popular items. Below...
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Fifo/Lifo review: Alley Company sells many products. Clocks is one of its popular items. Below is an analysis of the inventory purchases and sales of clocks for the month of March. Analyze the fifo and lifo costs of inventory: Sales Units Unit Cost Units Selling Price/Unit 3/1 Beginning inventory 100 $45 3/3 Purchase 70 $so 3/4 Sales 3/10 Purchase250 $55 3/16 Sales 3/19 Sales 3/25 Sales 3/30 Purchase60 $60 80 $80 75 $90 70 $90 45 $90
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