You are provided with the following information for Sheffield Inc. for the month ended June...
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Accounting
You are provided with the following information for Sheffield Inc. for the month ended June 30, 2019. Sheffield uses the periodic inventory system for inventory.
Date - Description - Quantity - Unit Cost or Selling Price
June 1 - Beginning Inventory - 43 x $41
June 4 - Purchase - 137 x $45
June 10 - Sale - 108 x $68
June 11 - Sale Return - 18 x $68
June 18 - Purchase - 53 x $47
June 25 - Sale - 66 x $73
June 28 - Purchase - 33 x $51
Calculate Cost of Goods Available for Sale, Cost of Goods Sold, and Ending Inventory under the FIFO, LIFO, and Average Cost Methods. Show all work. Thanks!
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