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1. The following information will be used to complete inventory valuation: Units available Units sold Actual unit cost Actual total cost Beginning inventory 100.00 2.10
1. The following information will be used to complete inventory valuation: | ||||||
Units available | Units sold | Actual unit cost | Actual total cost | |||
Beginning inventory | 100.00 | 2.10 | 210.00 | |||
Sale | 75.00 | |||||
Purchase | 150.00 | 2.80 | 420.00 | |||
Sale | 100.00 | |||||
Purchase | 50.00 | 3.00 | 150.00 | |||
Total | 300.00 | 175.00 | 7.90 | 780.00 | ||
A) Compute the cost of goods sold and ending inventory balances using FIFO | ||||||
B) Compute the cost of goods sold and ending inventory balances using weighted average cost | ||||||
Please show your work |
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