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Could you help to solve those a,b, please? TAKING IT FURTHER If Churchill Company wishes to change from weighted average to the FIFO cost for-
Could you help to solve those a,b, please?
TAKING IT FURTHER If Churchill Company wishes to change from weighted average to the FIFO cost for- mula, what factors must it consider before making this change? P6-5A Fly-Buy Frisbees sells a wide variety of frisbees and uses a perpetual inventory system. Okjune ly. Apply perpet Buy Frisbees had five Fast Flying Frisbees on hand at a unit cost of $105. During June and July, the company had weighted aver the following purchases and sales for this frisbee (all for cash): question abo statement eff Purchases Sales (LO 2, 3) AP Units Unit Cost Units Unit Price $210 June 4 18 30 July 5 12 25 $115 235 120 255 255 255 P30 b[o Instructions perpetual inventory system usi and (2) weighted average. (Hnt: Round the weighted average cost per unit to two decimal places (a) Determine the cost of goods sold and ending inventory under a ng (1) FIEO and (2) weighted average. (Hint: Round th alculate gross profit using (1) FIFO and (2) weighted averageStep by Step Solution
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