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Craig Ltd. began the month of March with 656 units in inventory with a total cost of $1,640. The company uses a perpetual inventory system
Craig Ltd. began the month of March with 656 units in inventory with a total cost of $1,640. The company uses a perpetual inventory system and had the following transactions during the month of March: Unit Cost $3.00/unit $3.40/unit Total Cost $4,920 $3,910 Mar. 7 Mar. 12 Mar. 15 Mar. 21 Mar. 26 Purchased 1,640 units Purchased 1,150 units Sold 900 units at $6.90/unit Purchased 656 units Sold 984 units at $6.90/unit $3.75/unit $2,460 Determine Craig's cost of goods available for sale for March. Cost of goods available for sale $ 12930 Determine the cost of goods sold for the month of March and the value of inventory at the end of the month assuming Craig Ltd. uses the weighted average cost flow assumption. (Round calculations for cost per unit to 2 decimal places, e.g. 10.51 and final answers to decimal places, e.g. 61,053.) Cost of goods sold $ Value of ending inventory $ Determine the cost of goods sold for the month of March and the value of inventory at the end of the month assuming that Craig Ltd. uses the first-in, first-out cost flow assumption. (Round answers to 0 decimal places, e.g. 125.) Cost of goods sold $ Value of ending inventory $
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