The following information was available from the inventory records of Sheffield Corp. for January: 1/1 Inventory...
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The following information was available from the inventory records of Sheffield Corp. for January: 1/1 Inventory 1/6 Purchases 1/7 Sales 1/26 Purchases 1/31 Sales Units 8,800 5,800 7,400 8,100 11,300 Unit Cost $9.76 10.25 10.76 Total Cost $85,888 59,450 87,156 00% Assuming that Sheffield does not maintain perpetual inventory records, what should be the inventory at January 31, using the weighted-average inventory method, rounded to the nearest dollar? The following information was available from the inventory records of Sheffield Corp. for January: 1/1 Inventory 1/6 Purchases 1/7 Sales 1/26 Purchases 1/31 Sales Units 8,800 5,800 7,400 8,100 11,300 Unit Cost $9.76 10.25 10.76 Total Cost $85,888 59,450 87,156 00% Assuming that Sheffield does not maintain perpetual inventory records, what should be the inventory at January 31, using the weighted-average inventory method, rounded to the nearest dollar?
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Calculate the inventory at January 31 using the weightedaverage inventory method STEP 1 Calculate th... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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