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Could I get some help with this? You have the following information for Sunland Inc. Sunland Inc. uses the periodic method of accounting for its
Could I get some help with this?
You have the following information for Sunland Inc. Sunland Inc. uses the periodic method of accounting for its inventory transactions. March 1 Beginning inventory 2,000 liters at a cost of 70 per liter. March 3 Purchased 2,500 liters at a cost of 74t per liter. March 5 Sold 2,300 liters for $1.05 per liter. March 10 Purchased 4,000 liters at a cost of 81c per liter. March 20 Purchased 2,500 liters at a cost of 89c per liter. March 30 Sold 5,200 liters for $1.25 per liter. (1) Specific identification method assuming: (i) The March 5 sale consisted of 1,000 liters from the March 1 beginning itiventory and 1,300 liters from the March 3 purchase; and (iix) The March 30 sale consisted of the following number of units sold from beginning inventory and each purchase: 450 liters from March 1; 550 liters from March 3; 2 . 900 liters fram March 10- 1.300 liters from March 20 . (1) Specific identification method arsaming Q4. The March 5 sale condisted of 1.000 liters fron the March 1 begrning inventory and 1.300 Iderstron the March 2 purchase ard (2) FiFO Step by Step Solution
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