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use the fifo method ,calculate jessie's inventory on December 31 and its cost of goods sold for December.

endue Inventory FIFO Jessie Stores uses the periodic system of calculating inventory. The following information is available for Units Cost/Unit Cost/Unit Total Inventory, Dec. 1 300 600 900 250 $75,000 275 165,000 $240,000 Purchases, Dec. 8 Using the FIFO method, calculate Jessie's inventory on December 31 and its cost of goods sold for Decemb Ending inventory Cost of goods sold = $ Feedback T Check y Workl First-in, first-out (FIFO) assumes costs move through inventory in chronological order. In other words FIFO cost flow assumption results in the earliest (and oldest) costs incurred beino allocated to cost of heck My Work endue Inventory FIFO Jessie Stores uses the periodic system of calculating inventory. The following information is available for Units Cost/Unit Cost/Unit Total Inventory, Dec. 1 300 600 900 250 $75,000 275 165,000 $240,000 Purchases, Dec. 8 Using the FIFO method, calculate Jessie's inventory on December 31 and its cost of goods sold for Decemb Ending inventory Cost of goods sold = $ Feedback T Check y Workl First-in, first-out (FIFO) assumes costs move through inventory in chronological order. In other words FIFO cost flow assumption results in the earliest (and oldest) costs incurred beino allocated to cost of heck My Work

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