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This question was created from Session 18 https://www.coursehero.com/file/17165782/Session-18/

In its first month of operations, Literacy for the Illiterate opened a new bookstore and bought merchandise
in the following order: (1) 300 units at \$7 on January 1, (2) 450 units at \$8 on January 8, and (3) 750 units
at \$9 on January 29. Assume 900 units are on hand at the end of the month.
Calculate the cost of goods available for sale, cost of goods sold, and ending inventory under the (a)
FIFO, (b) LIFO, and (c) weighted average cost flow assumptions. Assume perpetual inventory system and
sold 600 units between January 9 and January 28. (Round your intermediate calculations to 2 decimal
places.)
FIFO
LIFO
Weighted Average
Cost of Goods
Available
Cost of Goods Sold
Ending Inventory

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