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Assume that Oriole Company has the following transactions in its first month of operations. table [ [ Date , Purchases,Sold,Balance ] , [ Feb
Assume that Oriole Company has the following transactions in its first month of operations.
tableDatePurchases,Sold,BalanceFeb@$ unitsFeb@$ unitsFeb units, unitsFeb@$ units
a
Your answer is partially correct.
Compute cost of goods sold and ending inventory at February assuming Oriole uses a perpetual inventory system and the FIFO cost flow assumption. Round answers to decimal places, eg
FIFO
Cost of goods sold
Ending inventory
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