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Brief Exercise 6-6 Indigo Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations: Date Explanation
Brief Exercise 6-6 Indigo Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations: Date Explanation Units Unit Cost Total Cost Balance in Units Aug. 2 Purchases 249 $72 $17,928 249 3 Purchases 505 96 48,480 754 10 Sales (288) 466 15 Purchases 862 107,750 1,328 25 Sales (319) 1,009 Your answer is partially correct. Try again. Calculate the cost of goods sold and ending inventory using the FIFO cost method. Cost of goods sold 52296 Ending inventory 131654 LINK TO TEXT Your answer is incorrect. Try again. Calculate the cost of goods sold and ending inventory using the average cost method. (Round average cost per unit and final answers to 2 decimal places, e.g. 1.25.) Cost of goods sold 65417.02 Ending inventory LINK TO TEXT
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