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2 EX 6-3 Perpetual Inventory using FIFO and weighted average 3 5 Inventory balance, April 30, $3,750 Beginning inventory, purchases, and sales data for pillows

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2 EX 6-3 Perpetual Inventory using FIFO and weighted average 3 5 Inventory balance, April 30, $3,750 Beginning inventory, purchases, and sales data for pillows are as follows: Apr. 1 Inventory 50 units at $35 Sale 40 units 14 Purchase 60 units at $36 21 Sale 35 units 23 Sale 10 units 30 Purchase 75 units at $38 a. Assume the business maintains a perpetual inventory system, costing by the first-in, first-out method. Determine the cost of the goods sold for each sale and the inven- tory balance after each sale, presenting the data in the form illustrated in Exhibit 3, on page 310 b. The April 30 inventory count is $3,712. Record the journal entry required. c. Assume the business maintains a perpetual inventory system, costing by the weighted average method. Determine the cost of goods sold for each sale and the inventory balance after each sale, presenting the data in the form illustrated in Exhibit 4, on page 311. d. The April 30 inventory count is $3,712. Record the journal entry required

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