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Assuming the business maintains a perpetual inventory system, complete the inventory cards and calculate the cost of merchadise sold and ending inventory under the following
Assuming the business maintains a perpetual inventory system, complete the inventory cards and calculate the cost of merchadise sold and ending inventory under the following assumptions:
2. Beginning inventory, purchases, and sales data for hammers are as follows Mar. 3 Inventory 11 Purchase 14 Sale 21 25 12 units 13 units 18 units 9 units 10 units $17 Purchase Sale Assuming the business maintains a perpetual inventory system, complete the inventory cards and calculate the cost of merchandise sold and ending inventory under the following assumptions: (a) First-in, first-out Cost of Merchandise Sold Purchases Inventory Unit Total Unit Total Unit Total Cost Date Qty. Cost Cost Qty. Cost Cost Qty. Cost Mar. 3 14 21 25 Balances Cost of Merchandise Sold Purchases Inventory Unit Total Unit Total Unit Total Date t stt ty.t st . Cost Cost Mar. 3 14 21 25 BalancesStep by Step Solution
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