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Consider the following transactions for A67 Company for the month shown in chronological order: Number of units Unit Cost Sales Beginning inventory 800 $50 Purchased
Consider the following transactions for A67 Company for the month shown in chronological order:
Number of units | Unit Cost | Sales | |
Beginning inventory | 800 | $50 | |
Purchased | 600 | $52 | |
Sold | 400 | $80 | |
Sold | 350 | $90 | |
Ending inventory | 650 |
In the table below, calculate the dollar value for the period for each of the following items using the listed cost allocation methods and using perpetual inventory updating.
PLEASE NOTE: All dollar amounts will be rounded to whole dollars using "$" with commas as needed (i.e. $12,345), except for the Weighted Average cost per unit, which will be rounded to two decimal places and include "$".
Weighted average cost per unit =_______________ per unit.
Cost allocation method | Cost of goods available | Cost of goods sold | Ending inventory | Sales |
First-in, First-out (FIFO) | ||||
Last-in, First-out (LIFO) | ||||
Weighted average (AVG) |
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