Question
A Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Mar. 1 Mar. 5 Mar. 9
A Company uses a perpetual inventory system. It entered into the following purchases and sales transactions for March. Date Mar. 1 Mar. 5 Mar. 9 Mar. 18 Mar. 25 Mar. 29 Activities Beginning inventory Purchase Sales Purchase Purchase Sales Totals Units Acquired at Cost Units Sold at Retail 420 units @ $95.00 per unit 160 units @ $95.00 per unit 580 units 100 units 400 units 120 units 200 units 820 units @ $45.00 per unit @ $50.00 per unit @ $55.00 per unit @ $60.00 per unit Create an inventory schedule table and calculate the revenue, cost of goods sold, gross profit and inventory balance. A) AsthecompanyuseFIFO B) AsthecompanyuseWeightedAverage
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