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State whether each of these procedures is appropriate or inappropriate. propriate, state why. it is...

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Accounting

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State whether each of these procedures is appropriate or inappropriate. propriate, state why. it is inap- EX 6-3 Perpetual inventory using FIFO Beginning inventory, purchases, and sales data for DVD players are as follows Obj. 2, 3 November 1 10 15 20 24 Inventory 20 units at $39 Sale Purchase 140 units at $40 Sale Sale Purchase 90 units 110 units 45 units 160 units at $43 The business maintains a perpetual inventory system, costing by the first-in, first-out method. A. Determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3. B. Based upon the preceding data, would you expect the inventory to be higher or lower using the last-in, first-out method? EX 6-4 Perpetual inventory using LIFO Obj. 2, 3 Assume that the business in Exercise 6-3 maintains a perpetual inventory system, costing by the last-in, first-out method. Determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4 Obj. 2, 3 EX 6-5 Perpetual inventory using LIFO onr nurchases, and sales data for prepaid cell phones for December are as

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