Beta Inc. had the following transactions in its inventory account during 2022. Beta uses a perpetual...
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Beta Inc. had the following transactions in its inventory account during 2022. Beta uses a perpetual inventory system. Beta started the year with 250 units of inventory at a cost of $9.50. Date March April June August September November Unit Purchases 600 450 500 Price per unit $10.75 $13.00 $14.25 Unit Sales 700 400 350 Selling Price $30 $32 $33 Required: a. Calculate the total cost of goods sold for the year 2022 using perpetual moving average. b. Calculate ending inventory using perpetual moving average. Beta Inc. had the following transactions in its inventory account during 2022. Beta uses a perpetual inventory system. Beta started the year with 250 units of inventory at a cost of $9.50. Date March April June August September November Unit Purchases 600 450 500 Price per unit $10.75 $13.00 $14.25 Unit Sales 700 400 350 Selling Price $30 $32 $33 Required: a. Calculate the total cost of goods sold for the year 2022 using perpetual moving average. b. Calculate ending inventory using perpetual moving average.
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Related Book For
Government and Not for Profit Accounting Concepts and Practices
ISBN: 978-1118983270
7th edition
Authors: Michael Granof, Saleha Khumawala, Thad Calabrese, Daniel Smith
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