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Business, 21.12.2020 17:50 lolyan555

Esquire Inc. uses the LIFO method to report its inventory. Inventory at January 1, 2021, was $888,000 (37,000 units at $24 each). During 2021, 114,000 units were purchased, all at the same price of $29 per unit. 117,000 units were sold during 2021. Calculate the December 31, 2021, ending inventory and cost of goods sold for 2021 based on a periodic inventory system.

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Esquire Inc. uses the LIFO method to report its inventory. Inventory at January 1, 2021, was $888,00...
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