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28 Sep 2019
What is a management representation letter "rep letter", and how isit different from a management letter?
What is a management representation letter "rep letter", and how isit different from a management letter?
1
answer
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watching
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Beverley SmithLv2
28 Sep 2019
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Alphabet Company, which uses the periodic inventory method, buysdifferent letters for resale. It buys A thru G in January at $11.0per letter. In February, it buys H thru L at $13.0 per letter. Itbuys M thru R in March at $14.0 per letter. It sells A, D, E, H, Jand N in April. |
If the company uses the LIFOmethod, what is the cost of its ending inventory? |
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