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Canadian Tire sells car wash cleaners. Canadian Tire uses a perpetual inventory system and made purchases and sales of a particular product in 2020 as
Canadian Tire sells car wash cleaners. Canadian Tire uses a perpetual inventory system and made purchases and sales of a particular product in 2020 as follows: Jan. 1 Beginning inventory Mar Jan. 10 Sold Mar. 15 Sold. 7 Purchased July 28 Purchased. Oct. 3 Purchased Oct. Sold 130 units 85 7.10 -5 60 units 515.60 = 310 units @s 6.40 - 120 units @515.60- 560 units @5.6.20 510 units 85 6.10 = 690 units @$15.00 923.00 936.00 1,954.00 1,872.00 3,472.00 3,111.00 10,764.00 Assume that Canadian Tire specifically sold the following units: Jan. 10: 60 units from beginning inventory Mar. 15 30 units from beginning inventory, and 90 units from the March 7 purchase Oct. 5 215 units from the July 25 purchase, and 475 units from the October 1 purchase Calculate cost to be assigned to ending inventory and cost of goods sold. (Round your final answers to 2 decimal places.) Ending inventory Cost of goods sold
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