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can you type it please because I don't understand handwriting? thanks . SHOW ALL YOUR WORK 1. Iris Inc. uses the Periodic Inventory System. Iris
can you type it please because I don't understand handwriting? thanks .
SHOW ALL YOUR WORK 1. Iris Inc. uses the Periodic Inventory System. Iris Inc. made the following flower purchases during the year: Date 1-1 3-1 6-1 9-1 Total # of Units 10,000 20.000 30,000 20,000 80,000 Cost per Unit $1 $1.25 $1.60 $1.75 Total Cost $10,000 $25,000 $48,000 $35,000 $118,000 During the year 65,000 units were sold and 15,000 units remained in inventory. Required: Calculate the cost of Goods Sold and Ending Inventory under First In First Out, Last In First Out, and Weighted Average Methods. a) On January 1, 2020, Lavender Company purchased a Crane for $400,000 cash. Lavender paid the following expenses in connection with the purchase, sales tax $10,000, and delivery charges $1,000. These expenses were paid in cash. Lavender estimates a two-year life and $20,000 salvage value. Lavender uses the straight-line method of depreciation. Lavender sells the Crane for $50,000 cash on January 1, 2022 Required: Prepare the appropriate journal entries
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