Question: Beginning inventory, purchases, and sales data for hammers are as follows: Mar. ] Inventory 11 Purchase 14 Sale 21 Purchase 25 Sale 12 units $15
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Beginning inventory, purchases, and sales data for hammers are as follows: Mar. ] Inventory 11 Purchase 14 Sale 21 Purchase 25 Sale 12 units $15 13 units @ $17 18 units 9 units $20 10 units Assuming the business maintains a perpetual inventory system, complete the inventory cards and calculate the cost of goods sold and ending inventory under the following assumptions a. First-in, first-out Purchases Cost of Goods Sold Inventory Date Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Qty. Unit Cost Total Cost Mar. 3 11 14 389 21 all 25 Balances Balances Cost of goods sold Ending inventory b. Last-in, first-out Purchases Cost of Goods Sold Inventory Date Qty. Unit Cost Total Cost Qty. Unit Cost Total Obst Qty. Unit Cost Total Cost Mar. 3 11 21 001 25 Balances Cost of goods sold E Ending inventory
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