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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 Mar. 7 Purchased Mar. 15 Sold July 28 Purchased Oct. Oct. 3 Purchased 5 Sold 110 units @ $ 7.00 80 units @ $15.50 300 units @ $ 6.30 130 units @ $15.50 550 units @ $ 6.10 == 500 units @ $ 6.00 670 units @ $15.50 $ 770 1,240 == 1,890 == 2,015 3,355 = 3,000 == 10,385 Assume that Car Armour specifically sold the following units: Jan. 10: 80 units from beginning inventory Mar. 15: 10 units from beginning inventory, and 120 units from the March 7 purchase Oct. 5: 200 units from the July 28 purchase, and 470 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
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