A new restaurant purchased the following wine during the first month of operations: March 2: Purchased 12
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A new restaurant purchased the following wine during the first month of operations:
March 2: Purchased 12 750ml bottles of M & B wine @ $12.00 each.
March 16: Purchased 24 750ml bottles of M & B wine @ $13.00 each March 31: Sold 30 bottles during March @ $26 each.
Determine the value of the ending inventory and cost of sales for M & B for March using:
a. First-in, first-out method
b. Last-in, first-out method
c. Weighted average method
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Related Book For
Hospitality Management Accounting
ISBN: 9780471092223
8th Edition
Authors: Martin G Jagels, Michael M Coltman
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