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Assume that Swifty Company has the following transactions in its first month of operations. Date Purchases Feb. 1 1,100 @ $4 Feb. 10 6,900 @
Assume that Swifty Company has the following transactions in its first month of operations. Date Purchases Feb. 1 1,100 @ $4 Feb. 10 6,900 @ $4.40 Feb. 21 Feb. 28 2,000 @ $4.75 Sold Balance 1,100 units 8,000 units 4,000 units 4,000 units 6,000 units Compute cost of goods sold and ending inventory at February 28, assuming that Swifty uses a perpetual inventory system and the moving-average cost flow assumption. (Round unit costs to 3 decimal places, e.g. 4.253 and final anwers to O decimal places, e.g. 1,235.) Moving-Average Cost of goods sold $ Ending inventory $
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