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QUESTION
Lakia uses a perpetual inventory system. Ending inventory consists of 500 units, 400 from the July 28 purchase and 100 from the December 19 purchase....
Lakia uses a perpetual inventory system. Ending inventory consists of 500 units, 400 from the July 28purchase and 100 from the December 19 purchase. Determine the cost assigned to ending inventory andto cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO.
