Crown Jewelers uses the periodic inventory system. Data per- P.O. 2b,c,d taining to the inventory on January
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Crown Jewelers uses the periodic inventory system. Data per- P.O. 2b,c,d taining to the inventory on January 1, the beginning of the fiscal year, as well as purchases during the year and the inventory count on December 31, are as follows:
Instructions 1. Determine the cost of the inventory on December 31 by the weighted-averagecost method. (Round to two decimal places.)
2. Determine the cost of the inventory on December 31 by the first-in, first-out method.
3. Determine the cost of the inventory on December 31 by the last-in, first-out method.
Check Figure Weighted-average-cost ending inventory, $22,321.05
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Related Book For
College Accounting Chapters 1-26
ISBN: 9780395796993
6th Edition
Authors: Douglas J. McQuaig, Patricia A. Bille
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