Refer to PE 7-25. Compute (1) cost of goods sold and (2) ending inventory making an average

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Refer to PE 7-25. Compute (1) cost of goods sold and (2) ending inventory making an average cost assumption. The company uses a perpetual inventory system.
PE 7-25
The company reported the following inventory data for the year:
Refer to PE 7-25. Compute (1) cost of goods sold

Sales occurred as follows:
Units Sold
January 16 .......................................................................... 200
July 23 .............................................................................. 600
November 1 ........................................................................ 1,300
Total ................................................................................. 2,100

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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Financial Accounting

ISBN: 978-0324645576

10th edition

Authors: W. Steve Albrecht, James D. Stice, Earl K. Stice

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