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Seminole Company began the year with 22,000 units of product in its January 1 inventory costing...

Seminole Company began the year with 22,000 units of product in its January 1 inventory costing $15.40 each. It made successive purchases of its product during the year as follows. The company uses a periodic inventory system. On December 31, a physical count reveals that 39,000 units of its product remain in inventory. Mar. 7 32,000 units @ $18.40 each May 25 34,000 units @ $22.40 each Aug. 1 24,000 units @ $24.40 each Nov. 10 35,000 units @ $27.40 each Required: 1. Compute the number and total cost of the units available for sale during the year. 2. Compute the amounts assigned to ending inventory and the cost of goods sold using (a) FIFO, (b) LIFO, and (c) weighted average..

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