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Sheffield Corporation began operations on December 1, 2024. The only inventory transaction in 2024 was the purchase of inventory on December 10,2024 , at a cost of $24 per unit. None of this inventory was sold in 2024 . Relevant information is as follows. During the year, the following purchases and sales were made. The company uses the periodic inventory method. Determine ending inventory under (1) specific identification, (2) FIFO, (3) LIFO, and (4) average-cost. (Round answers to O decimal places, eg. 2,760.).

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Sheffield Corporation began operations on December 1, 2024. The only inventory transaction in 2024 was the purchase of inventory on December 10,2024 , at a cost of $24 per unit. None of this inventory was sold in 2024 . Relevant information is as follows. During the year, the following purchases and sales were made. The company uses the periodic inventory method. Determine ending inventory under (1) specific identification, (2) FIFO, (3) LIFO, and (4) average-cost. (Round answers to O decimal places, eg. 2,760.)

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  • 1. Sheffield Corporation began operations on December 1, 2024. The only inventory transaction in 2024 was the purchase of inventory on December 10,2024 , at a cost of $24 per unit. None of this inventory was sold in 2024 . Relevant information is as follows. During the year, the following purchases and sales were made. The company uses the periodic inventory method. Determine ending inventory under (1) specific identification, (2) FIFO, (3) LIFO, and (4) average-cost. (Round answers to O decimal places, eg. 2,760.)