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Solve the problem.The Chicago Men's Shop made the following purchases of dress shirts: 50 shirts at ...

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Solve the problem.The Chicago Men's Shop made the following purchases of dress shirts: 50 shirts at ...

Solve the problem.

The Chicago Men's Shop made the following purchases of dress shirts: 50 shirts at $73.37 in January, 60 shirts at $42.49 in March, 75 shirts at $83.16 in June, and 35 shirts at $55.78 in August. A September inventory found 123 shirts remaining. Find the inventory value using a) weighted average method, b) FIFO Method, and c) LIFO Method. Round final answers to the nearest cent.

▸ (a) $14,407.20
(b) $9,024.51
(c) $6,860.94

▸ (a) $8,055.27
(b) $8,741.67
(c) $7,298.98

▸ (a) $8,055.27
(b) $7,298.98
(c) $8,741.67

▸ (a) $7,835.10
(b) $5,226.27
(c) $10,228.68

Textbook

Business Mathematics

Edition: 15^th

Authors: Clendenen, Moninger

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