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A company had the following purchases and sales during its first year of operations: table [ [ , Beginning Inventory,Purchases,Sales ] , [ ,
A company had the following purchases and sales during its first year of operations:
tableBeginning Inventory,Purchases,Sales units at $ unitsMarch: units at $ unitsApril: units at $ unitsAugust units at $ unitsDecember: units at $
On December there were units remaining in ending inventory. Assume all sales were made on the last day of the month.
Using the perpetual FIFO inventory costing method, what is the value of cost of goods sold?
Using the perpetual FIFO inventory costing method, what is the value of ending inventory?
You must show your work to receive credit, but you do not have to create tables or an inveintory record. Showing the math calculations is sufficient.
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