(SOLVED) Suppose Halton Corporations inventory records for a particular c


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Suppose Halton Corporations inventory records for a particular computer chip indicate the following at July 31:Jul 1 Beginning inventory …………… 5 units @ $59 = $2958 Purchase…………………………… 3 units @ $59 = 17715 Purchase…………………………… 13 units @ $69 = 89726 Purchase…………………………… 1 units @ $79 = 79The physical count of inventory at July 31 indicates that seven units of inventory are on hand.RequirementsCompute ending inventory and cost of goods sold, using each of the following methods:1. Specific unit cost, assuming two $59 units and five $69 units are on hand2. Average cost (round average unit cost to the nearest cent)3. First-in, first-out4. Last-in, first-out

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$19