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In its first month of operations, Concord Company made three purchases of merchandise in the...

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Accounting

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In its first month of operations, Concord Company made three purchases of merchandise in the following sequence: (1) 200 units at $4, (2) 290 units at $7, and (3) 395 units at $8. Assuming there are 240 units on hand. Compute the cost of the ending inventory under the FIFO method and the LIFO method. Concord uses a periodic inventory system. FIFO $ LIFO $

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