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All other answers are correct ... I am stuck on the ending inventory for the twp spots that I highlighted and circled Required information Altira
All other answers are correct ... I am stuck on the ending inventory for the twp spots that I highlighted and circled
Required information Altira Corporation uses a perpetual inventory system. The following transactions affected its merchandise inventory during the month of August 2018 Aug.1 Inventory on hand-3,900 units; cost $8.00 each 8 Purchased 19,500 units for $7.40 each. 14 Sold 15,600 units for $13.90 each 18 Purchased 11,700 units for $6.60 each. 25 Sold 14,600 units for $12.90 each 31 Inventory on hand-4,900 units. 3. Determine the inventory balance Altira would report in its August 31, 2018, balance sheet and the cost of goods sold it would report in its August 2018 income statement using the Average cost method. (Round "Average Cost per Unit" to 2 decimal places.) Inventory on hand Cost of Goods Sold Inventory Balance Perpetual Average # of units in # of units cost per l Invento unit | # of units SO Cost per Ending Avg.Cost | Cost of per unit Goods Sold ending ry Value unit inventory inventory 3,900 $ 8.0031,200 144,300 3,900 8.00 31,200 Beginning Inventory Purchase - August 8 Sale August 14 Purchase August 18 Sale August 25 Total 19,500$ 7.40 15,600 7.50117,000 $ 7.50$58,500 11,700$ 6.60 77,220 14,600 6.96 101,616 0 $ 6.96 $ 34,104 35,100 $ 252,720 30,200 S 218,616 4,900$ 6.96S 34,104
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