Valuing Inventory and Cost of Goods Sold Aberdeen Metals Ltd. had the following inventory transactions during the

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Valuing Inventory and Cost of Goods Sold Aberdeen Metals Ltd. had the following inventory transactions during the month of March: 3/1 beginning inventory Week 1, purchases Week 2, purchases Week 3, purchases Week 4, purchases 4,000 units 2.00 8,000 2,000 units 2.10 4,200 2,000 units 2.20 4,400 1,000 units 2.30 2,300 1,000 units 2.50 2,500 On March 31, a count of the ending inventory was completed, and 5,500 units were on hand. By using the periodic inventory system, calculate the cost of goods sold and ending inventory using LIFO, FIFO, and weighted-average inventory methods.

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Introduction To Financial Accounting

ISBN: 0131479725

9th Edition

Authors: Charles T Horngren, John A Elliott

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