Assume the following data with regard to inventory for Caciato Company: Assuming that the inventory consists

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Assume the following data with regard to inventory for Caciato Company:

40 units @ $10 per unit 50 units @ $11 per unit 35 units @ $12 per unit 125 units 45 units 25 units 55 units Aug. 1 8 Pu

Assuming that the inventory consists of 30 units from the August 8 purchases and 25 units from the purchases of August 22, calculate the cost of ending inventory and cost of goods sold.

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...

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Principles of Accounting

ISBN: 978-1439037744

11th Edition

Authors: Needles, Powers, crosson

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Question Posted: Feb 23, 2012 01:01 AM

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Assume the following data with regard to inventory for Caciato Company: Assuming that the inventory consists

Question:

40 units @ $10 per unit 50 units @ $11 per unit 35 units @ $12 per unit 125 units 45 units 25 units 55 units Aug. 1 8 Purchase 22 Purchase Goods available for sale $ 400 Inventory 550 420 $1,370 Aug. 15 Sale 28 Inventory, Aug. 31

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Specific identification method Cost of g...View the full answer

Principles of Accounting

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