The Hat Store had the following series of transactions for Year 2 Date January 1 March...

 

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The Hat Store had the following series of transactions for Year 2 Date January 1 March 15 May 30 August 10 November 20 Required Transaction Beginning inventory Purchased Sold Purchased Sold Description 40 units @ $19.00 205 units @ $23.00 180 units @ $23.00 290 units @ $24.00 335 units @ $41.50 a. Determine the quantity and dollar amount of inventory at the end of the year, assuming The Hat Store uses the FIFO cost flow assumption and keeps perpetual records. (Round your answers to 2 decimal places.) The Hat Store had the following series of transactions for Year 2 Date January 1 March 15 May 30 August 10 November 20 Required Transaction Beginning inventory Purchased Sold Purchased Sold Description 40 units @ $19.00 205 units @ $23.00 180 units @ $23.00 290 units @ $24.00 335 units @ $41.50 a. Determine the quantity and dollar amount of inventory at the end of the year, assuming The Hat Store uses the FIFO cost flow assumption and keeps perpetual records. (Round your answers to 2 decimal places.)

Answer rating: 100% (QA)

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