The following information is available for Altec Corporation's merchandise inventory transactions...
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Accounting
The following information is available for Altec Corporation's merchandise inventory transactions during the month of August. During the month, Altec sold 11,000 units for $12.00 each on August 14 and 3,000 units for $11.00 each on August 25. If Altec uses the periodic inventory system, what amounts would be reported as COGS and Ending Inventory using FIFO, LIFO, and Weighted Average? Z
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