The following is a record of Sunland Company's transactions for Boston Teapots for the month...
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The following is a record of Sunland Company's transactions for Boston Teapots for the month of May 2020. Sale May 1 12 28 Balance Purchase Purchase 452 units @ $19.00 May 10 678 units @ $26.00 20 452 units @ $28.00 339 units @ $41.00 610 units @ $41.00 Sale (a) Your answer is correct Assuming that perpetual inventories are not maintained and that a physical count at the end of the month shows 633 units on hand, what is the cost of the ending inventory using (1) FIFO and (2) LIFO? (1) FIFO (2) LIFO Ending inventory $ 17362 $ 13294 e Textbook and Media Assistance Used (b) Assuming that perpetual records are maintained and they tie into the general ledger, calculate the ending inventory using (1) FIFO and (2) LIFO. (1) FIFO (2) LIFO Ending Inventory e Textbook and Media Save for later Attempts:0 of 3 used Submit
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