Calculate ending inventory for FIFO and weighted average cost flow assumptions under both periodic and perpetual systems.
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Question:
Units | cost/price | |
opening inventory | 10500 | $4.25 |
Sale #1 | (7500) | $7.50 |
Purchase #1 | 2500 | $4.45 |
Sale #2 | (4500) | $7.75 |
Purchase #2 | 3500 | $4.15 |
Related Book For
Financial Reporting And Analysis
ISBN: 9781260247848
8th Edition
Authors: Lawrence Revsine, Daniel Collins, Bruce Johnson, Fred Mittelstaedt, Leonard Soffer
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