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Zebra Corporation uses specific identification to cost inventory. During the first three years of operation ended December 31, 2016, the yearend inventory, computed by different methods for comparative purposes, was as follows:
Opening inventory on January 1, 2016 was zero. Sales and purchases for the three years were as follows:
There were no other expenses or revenues.
Required: Using the format of the table below, determine net income under each method. Show calculations. Partial results using specific identification are shown:
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