Nemmer Electric Co. began the year with 73 units of inventory that cost ($ 26) each. During

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Nemmer Electric Co. began the year with 73 units of inventory that cost \(\$ 26\) each. During the year Nemmer made the following purchases:

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The company uses the periodic inventory system, and the physical count at December 31 indicates that ending inventory consists of 91 units.

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Compute the ending inventory and cost-of-goods-sold amounts under (1) weighted-average cost, (2) FIFO cost, and (3) LIFO cost. Round weighted-average cost per unit to the nearest cent, and round all other amounts to the nearest dollar.

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Related Book For  book-img-for-question

Financial Accounting

ISBN: 9780133118209

2nd Edition

Authors: Charles T. Horngren, Jr. Harrison, Walter T.

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