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02-06-2023
Business

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: In its first month of operations, Crane Company made three purchases of merchandise in the following sequence: (1) 320 units at $6, (2) 460 units at $7, and (3) 210 units at $8. Assuming there are 360 units on hand, compute the cost of the ending inventory under the FIFO method and LIFO method. Crane uses a periodic inventory system. FIFO LIFO Cost of the ending inventory $.............. ................

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