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Question & Answer: Garcia Company had the following information for the year ending December 31: Garcia uses the perpe…..

Garcia Company had the following information for the year ending December 31 Units 200 420 550 490 340 140 Unit Cost $43 Beginning invento Purchase Sale Purchase Sale Purchase April 6 May 4 July 19 September 9 October 10 34 32 Garcia uses the perpetual inventory system and the LIFO method Required Using LIFO (a) Compute the cost of ending inventory (b) Compute the cost of goods sold for the year Cost of ending inventory Cost of goods sold Clear Undo Help

Garcia Company had the following information for the year ending December 31: Garcia uses the perpetual inventory system and the LIFO method. Required: Using LIFO (a) Compute the cost of ending inventory. (b) Compute the cost of goods sold for the year. Cost of ending inventory $ Cost of goods sold $

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