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Consider the following transactions for DeTrees Company for the month shown in chronological order: Number of Units Unit Cost Sales Beginning inventory 100 Purchased
Consider the following transactions for DeTrees Company for the month shown in chronological order: Number of Units Unit Cost Sales Beginning inventory 100 Purchased 80 $66 75 Sold 50 Sold Ending inventory 25 105 $120 125 In the table below, calculate the dollar value for the period for each of the following items using the listed cost allocation methods and using perpetual inventory updating. PLEASE NOTE: All dollar amounts will be rounded to whole dollars using "$" with commas as needed (i.e. $12,345), except for the Weighted Average cost per unit, which will be rounded to two decimal places and include "$" (i.e. $12,345.67). [HINT - You definitely will want to consider using this EXCEL spreadsheet Final Chapter10 #1 #2 Worksheets.xlsx to assist in your calculations.] Weighted average cost per unit = $70 per unit. Cost Allocation Method Cost of Goods Cost of Goods Sold Ending Inventory Sales Gross Margin Available First-in, First-out (FIFO) Last-in, First-out (LIFO) Weighted Average (AVG)
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