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Can someone explain how to do this calculation? Brief Exercise 6-6 (Part Level Submission) Pronghorn Limited uses a perpetual inventory system. The inventory records show
Can someone explain how to do this calculation?
Brief Exercise 6-6 (Part Level Submission) Pronghorn 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 253 762 478 1,370 1,035 Aug. 2 Purchases 253 509 (284) 892 (335) $69 $17,457 104 52,936 3 Purchases 10 Sales 15 Purchases 25 Sales 126 112,392 (a) Calculate the cost of goods sold and ending inventory using the FIFO cost method. Cost of goods sold Ending inventory LINK TO TEXT Step by Step Solution
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