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Can someone help me solve this accounting problem? Montoure Company uses a perpetual inventory system. It entered into the following calendar-year 2013 purchases and sales
Can someone help me solve this accounting problem?
Montoure Company uses a perpetual inventory system. It entered into the following calendar-year 2013 purchases and sales transactions Date Jan. 1 Beginning inventory Feb. 10 Purchase Mar. 13 Purchase Mar. 15 Sales Aug. 21 Purchase Sept. 5 Purchase Sept. 10 Sales Units Acquired at Cost 600 units $60/unit 480 units $57/unit 120 units $42/unit Activities Units Sold at Retail 785 units $80/unit 180 units @ $65/unit 470 units $63/unit 650 units $80/unit Totals 1,850 units 1,435 units Required: 1. Compute cost of goods available for sale and the number of units available for sale. Cost of goods available for sale Number of units available for sale units 2. Compute the number of units in ending inventory Ending inventory unitsStep by Step Solution
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