Shawn3945 Shawn3945

02-11-2022
Business

Answered

esquire incorporated uses the lifo method to report its inventory. inventory at the beginning of the year was $420,000 (21,000 units at $20 each). during the year, 82,000 units were purchased, all at the same price of $23 per unit. 86,000 units were sold during the year. calculate ending inventory and cost of goods sold at the end of the year based on a periodic inventory system.

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