Question
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
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 110 units @ $ 7.80 = $ Jan. 10 Sold Mar. 7 Purchased Mar. 15 Sold July 28 Purchased Oct. 3 Purchased Oct. 5 Sold 80 units @ $16.30 380 units $ 7.10 130 units @ $16.30 = 630 units @ $ 6.90 858.00 1,304.00 2,698.00 2,119.00 4,347.00 580 units $ 6.80 = 3,944.00 830 units $16.30 13,529.00 Assume that Car Armour specifically sold the following units: Jan. 10: 80 units from beginning inventory Mar. 15: 20 units from beginning inventory, and 110 units from the March 7 purchase Oct. 5: 320 units from the July 28 purchase, and 510 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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