Inventory data for Mushroom Corporation for the year ended December 3 1 , 2 0 2

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Question:

Inventory data for Mushroom Corporation for the year ended December $31, 2023,$ are as follows:

Beginning inventory $50$ units at $ $150$ each

March $31$ purchase $50$ units at $ $155$ each

$1$ st quarter sales $60$ units

June $30$ purchase $55$ units at $ $160$ each

$2$ nd quarter sales $70$ units

September $30$ purchase $60$ units at $ $170$ each

Required

Compute the perpetual ending inventory balance on December $31, 2023,$ using:

FIFO

Weighted $-$ average

Related Book For answer-question

Financial Reporting and Analysis Using Financial Accounting Information

ISBN: 978-1439080603

12th Edition

Authors: Charles H Gibson

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Posted Date: Apr 18, 2024 02:23 AM

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Inventory data for Mushroom Corporation for the year ended December 3 1 , 2 0 2

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Financial Reporting and Analysis Using Financial Accounting Information

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