Trout Company uses a perpetual inventory system and made purchases and sales of a particular product in
Question:
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Required:
1. Calculate the total goods available for sale (in units and cost).
2. Calculate the number of units sold and units remaining in ending inventory.
3. Determine the share of the cost of goods available for sale calculated in Part 1 that should be assigned to ending inventory and to goods sold under:
a. FIFO
b. Moving weighted average
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...
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Related Book For 
Fundamental Accounting Principles
ISBN: 978-0071051507
Volume I, 14th Canadian Edition
Authors: Larson Kermit, Tilly Jensen
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