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1. Determined the inventory on June 30 and the cost of goods sold for the three-moth period,using the first-in, first-out method and the periodic inventory
1. Determined the inventory on June 30 and the cost of goods sold for the three-moth period,using the first-in, first-out method and the periodic inventory system.
2. Determined the inventory on june 30 and the cost of goods sold for the three-month period, using the last-in, first-out method and the period inventory system
3. Determined the inventory on june 30 and the cost of goods sold for the three-month period,using the weighted average cost method and the periodic inventory system.
PR.06-04B Periodic Inventory by Three Methods The beginning inventory for Dunne Co. and data on purchases and sales for a three-month period are as follows: Date Transaction Number Per Unit Total of Units Apr. 3 Inventory 8 Purchase 11 Sale 30 Sale May 8 Purchase 10 Sale 19 Sale $1,200 1,240 2,000 25 $30,000 93,000 80,000 60,000 75,600 100,000 40,000 100,800 90,000 75 40 30 2,000 1,260 2,000 2,000 60 50 20 28 Purchase 80 1,260 2,250 2,250 1,264 2,250 June 5 Sale 40 16 Sale 25 56,250 21 Purchase 28 Sale 35 44,240 44 99,000 1. Determine the inventory using the first-in, first-out method and the periodic inventory system. on June 30 and the cost of goods sold for the three-month periodStep by Step Solution
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