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The accounting records of Metlock Electronics show the following data.
Beginning inventory 2,700 units at $5
Purchases 7,000 units at $7
Sales 8,100 units at $10
1a. Determine cost of goods sold during the period under a periodic inventory system using the FIFO method.
1b. Determine cost of goods sold during the period under a periodic inventory system using the LIFO method.
1c. Determine cost of goods sold during the period under a periodic inventory system using the average-cost method.
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