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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 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 Jan. 10 Sold Mar. 7 Purchased Mar. 15 Sold July 28 Purchased Oct. 3 Purchased Oct. 5 Sold 110 units @ $ 6.00 80 units @ $14.50 200 units @ $ 5.30 130 units @ $14.50 450 units @ $ 5.10 420 units @ $ 5.00 470 units @ $14.50 = $ 660.00 1,160.00 1,060.00 1,885.00 2,295.00 2,100.00 6,815.00 = = = Assume that Car Armour specifically sold the following units: Jan. 10: Mar. 15: 80 units from beginning inventory 20 units from beginning inventory, and 110 units from the March 7 purchase 50 units from the July 28 purchase, and 420 units from the October 3 purchase Oct. 5: 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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