Inventory information for Part 311 of Sheridan Corp. discloses the following information for the month...
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Inventory information for Part 311 of Sheridan Corp. discloses the following information for the month of June. June 1 11 20 Balance 301 units @ $12 Purchased 803 units @ $14 Purchased 502 units @ $16 June 10 15 27 Sold Sold Sold 197 units @ $29 500 units @ $30 297 units @ $32 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 $ e Textbook and Media 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 $ e Textbook and Media 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) $ e Textbook and Media
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