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Calculate ending inventory and cost of goods sold using the FIFO, LIFO, and average cost methods.

Tyler Company has the following information related to purchases and sales of one of its inventory items. Calculate ending inventory and cost of goods sold using the FIFO, LIFO and average cost methods.

Date               Description               Units Purchased at Cost               Units Sold at Retail
Sept. 01          Beginning Inventory    20 Units at $5
        10           Purchase                    30 Units at $8
        20           Sale                                                                               40 Units at $15
        25           Purchase                    25 Units at $10

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