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Could someone help me to understand I just want to compare with my answer :) You are given the following information for Wildhorse Company for

Could someone help me to understand I just want to compare with my answer :)

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You are given the following information for Wildhorse Company for the month ended November 30, 2017: Unit Date Description Units Price Nov. 1 Beginning inventory 56 $51 9 Purchase 110 44 15 Sale (115) 22 Purchase 145 44 29 Sale (160) 30 Purchase 43 44 Wildhorse Company uses a perpetual inventory system. All sales and purchases are on account. Calculate the cost of goods sold and the ending inventory using weighted average. ( Round the weighted average cost per unit to two decimal places, e.g. 5.27 and final answers to 2 decimal places, e.g. 5,275.75.) Cost of goods sold Ending inventory Assume the sales price was $66 per unit for the goods sold on November 15. Prepare the journal entry to record the November 15 sale. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round the average cost per unit to two decimal places, e.g. 5.27 and final answers to 2 decimal places, e.g. 5,275.75) Date Account Titles and Explanation Debit Credit Nov. 15 [To record credit sale) Nov. 15 [To record cost of goods sold)22 Purchase 145 44 29 Sale (160) 30 Purchase 43 44 Wildhorse Company uses a perpetual inventory system. All sales and purchases are on account. Calculate the cost of goods sold and the ending inventory using weighted average. ( Round the weighted average cost per unit to two decimal places, e.g. 5.27 and final answers to 2 decimal places, e.g. 5,275.75.) Cost of goods sold Ending inventory Assume the sales price was $66 per unit for the goods sold on November 15. Prepare the journal entry to record the November 15 sale. (Credit account titles are automatically indented when the amount is entered. Do not places, e.g. 5,275.75) indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Round the average cost per unit to two decimal places, e.g. 5.27 and final answers to 2 decimal Date Account Titles and Explanation Debit Credit Nov. 15 (To record credit sale) Nov. 15 (To record cost of goods sold) If the company changes from weighted average to FIFO and prices continue to fall, would you expect the cost of goods sold and ending inventory amounts to be higher or lower? If prices continue to fall, the FIFO cost formula will continue to yield v ending inventory and v I cost of goods sold than the weighted average cost formula

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