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Clear explanation of answer needed A company had the following inventory transactions during the month of December 2019. Receipts Dec. 1 Dec. 5 Issues 1,000
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A company had the following inventory transactions during the month of December 2019. Receipts Dec. 1 Dec. 5 Issues 1,000 units @ $10 each Dec. 8 2,300 units @ $25 each 1,500 units @ $15 each Dec. 10 1,200 units @ $20 each 17. What is the profit for the month, if the company used the weighted average (AVCO) method of stock valuation? A. $22,000 B. $22,500 C. $25,000 D. $27,600 18. What was the value of the stock for the month, if the company used the FIFO (first-in-first- out) method of stock valuation? A. $27,000 B. $26,600 C. $26,000 D. $16,000
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