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SolutionUsing FIFO, ending merchandise inventory is $11,080 and cost of goods sold is $8,600. Using LIFO, ending merchandise inventory is $10,200 and cost of goods sold is $9,480

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SolutionUsing FIFO, ending merchandise inventory is $11,080 and cost of goods sold is $8,600. Using LIFO, ending merchandise inventory is $10,200 and cost of goods sold is $9,480

 
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