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1. Calculate the cost of goods sold dollar value for A65 Company for the month, considering the following transactions under three different cost allocation methods
1. Calculate the cost of goods sold dollar value for A65 Company for the month, considering the following transactions under three different cost allocation methods and using perpetual inventory updating. Provide calculations for first-in, first-out (FIFO). Sales Number of Units 800 600 400 350 650 Unit Cost $50 52 Beginning inventory Purchased Sold Sold Ending inventory $80 90 5. Provide calculations in Exercise 4 for weighted average (AVG). 6. Prepare journal entries to record the following transactions, assuming perpetual inventory updating and first-in, first-out (FIFO) cost allocation. Assume no beginning inventory. Jan. 2, purchased merchandise for resale Jan. 12, purchased merchandise for resale Jan. 16, sold merchandise for $40 per unit Number of Units 300 200 220 Unit Cost $21 24
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