Question: The Hat Store had the following series of transactions for

The Hat Store had the following series of transactions for 2016:
Required
a. Determine the quantity and dollar amount of inventory at the end of the year, assuming The Hat Store uses the FIFO cost flow assumption and keeps perpetual records.
b. Write a memo explaining why The Hat Store would have difficulty applying the weighted average method on a perpetual basis.

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  • CreatedApril 20, 2015
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