Beginning inventory, purchases, and sales data for cellphones are as follows: a. Assuming that the perpetual inventory

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Beginning inventory, purchases, and sales data for cellphones are as follows:
Beginning inventory, purchases, and sales data for cellphones are as

a. Assuming that the perpetual inventory system is used, costing by the FIFO method, determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 3, on page 310.
b. Assuming that the perpetual inventory system is used, costing by the weighted average method, determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4, on page 311.

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Accounting

ISBN: 978-0176509743

Volume 1, 2nd canadian Edition

Authors: Carl warren, James Reeve, Jonathen Duchac, Sheila Elworthy,

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