Compute the cost of goods transferred out and the cost of ending inventory using the FIFO method. Determine whether the ending inventory higher or lower under the weighted-average method compared to FIFO. Provide reason for the same.

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Chapter 8, Problem 40E

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Compute the cost of goods transferred out and the cost of ending inventory using the FIFO method. Determine whether the ending inventory higher or lower under the weighted-average method compared to FIFO. Provide reason for the same.

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