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Brief Exercise 6-6 Sheffield Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations: Explanation Units
Brief Exercise 6-6 Sheffield Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations: Explanation Units Unit Cost Total Cost Balance in Units $73 Date $17,812 244 244 Aug. 2 Purchases 492 102 50,184 736 3 Purchases (293) 443 10 Sales 936 115 107,640 1,379 15 Purchases (331) 1,048 25 Sales X 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 Ending inventory
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