Question

Globe Company uses the perpetual inventory system. Globe Company has beginning inventory on December 1 of 225 units at $ 35. Data pertaining to the purchases and sales during the month are as follows:


Required
1. Determine the cost of goods sold for December and the cost of the inventory on December 31 by the moving-average-cost method. (Round to two decimal places.)
2. Determine the cost of goods sold for December and the cost of the inventory on December 31 by the last-in, first-outmethod.


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  • CreatedOctober 21, 2014
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