Introduction to Business
Introduction to Business
OER 2018 Edition
ISBN: 9781947172548
Author: OpenStax
Publisher: OpenStax College
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Chapter 3.7, Problem 2CC

Describe several cultural factors that a company involved in international trade should consider.

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Company Y reported FIFO ending inventory of $126,500 and a beginning inventory of $119,200 for 2021. Inventory purchases for 2021 were $265,300, and the change in the LIFO reserve for 2020 was an increase in the LIFO reserve of $890. Calculate the value of COGS LIFO for Company Y in 2021.
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