Tri Workout Clothing Store uses the perpetual inventory system. Tri Workout has beginning inventory on February 1
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1. Determine the cost of goods sold for February and the cost of the inventory on February 28 by the moving- average- cost method. (Round to two decimal places.)
2. Determine the cost of goods sold for February and the cost of the inventory on February 28 by the last- in, first- outmethod.
Transcribed Image Text:
Purchases Sales Date Units Cost per Unit $75.00 Units Price per Unit Feb. 3 15 85 40 $90.00 90.00 12 18 24 28 30 76.00 60 90.00 40 77.00
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Moving Average Cost PURCHASED AT COST COST OF GOODS SOLD ENDING INVENTORY AVERAGE DATE UNITS COST TO...View the full answer
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Related Book For
College Accounting
ISBN: 978-1111528126
11th edition
Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille
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