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Car Armour sells car wash cleaners. Car Armour uses a perpetual inventory system and made purchases and sales of a particular product in 2020
Car Armour sells car wash cleaners. Car Armour 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 120 units @$ 7.30 = $ Mar. 7 Purchased Mar. 15 Sold 70 units @ $15.80 330 units @ $ 6.60 125 units @ $15.80 = 876.00 1,106.00 = 2,178.00 1,975.00 July 28 Purchased 580 units @ $ 6.40 = 3,712.00 Oct. 3 Purchased 530 units @ $ 6.30 == 3,339.00 Oct. 5 Sold 730 units @ $15.80 11,534.00 Assume that Car Armour specifically sold the following units: Jan. 10: 70 units from beginning inventory Mar. 15: 25 units from beginning inventory, and 100 units from the March 7 purchase Oct. 5: 245 units from the July 28 purchase, and 485 units from 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 B
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