Dewey??s Department Store uses a perpetual inventory system. Data for product E2-D2 include the purchases shown on

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Dewey??s Department Store uses a perpetual inventory system. Data for product E2-D2 include the purchases shown on page 313.

On June 1, Dewey sold 25 units, and on August 27, 30 more units. Compute the cost of goods sold using (1) FIFO, (2) LIFO, and (3) average-cost. (Round the cost per unit to three decimal places.)

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Financial Accounting Tools for business decision making

ISBN: 978-0470534779

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Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso

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Question Posted: Sep 22, 2011 11:04 AM

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Dewey??s Department Store uses a perpetual inventory system. Data for product E2-D2 include the purchases shown on

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Unit Price Number of Units Date May 7 July 28 $10 15 50 30

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1 FIFO Cost of Goods Sold June 1 sale 25 units 10 250 Aug 27 sale 25 units ...View the full answer

Financial Accounting Tools for business decision making

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