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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 Jan. 10 Sold Mar. 7 Purchased Mar. 15 Sold July 28 Purchased Oct. 3 Purchased Oct. 5 Sold 130 units $ 6.40 = $ 832.00 60 units @ $14.90 894.80 240 units @ $ 5.70 1, 368.00 120 units $14.90 1,788.00 490 units @ $ 5.50 = 2,695.00 440 units @ $ 5.48 = 2,376.00 550 units @ $14.90 = 8,195.00 Assume that Canadian Tire specifically sold the following units: Jan. 10: 60 units from beginning inventory Mar. 15 30 units fron beginning inventory, and 90 units from the March 7 purchase Oct. 5: 110 units from the Duly 28 purchase, and 440 units fron the October 3 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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