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Culver-Mart Centre Inc. opened for business on May 1, and uses a perpetual inventory system. During May, the company had the following purchases and sales
Culver-Mart Centre Inc. opened for business on May 1, and uses a perpetual inventory system. During May, the company had the following purchases and sales for one of its products: Purchases Sales Date Units Unit Cost Units Unit Price May 1 $100 00 80 $ 250 100 00 110 80 275 15 60 115 20 60 208 27 40 321 Determine the cost of goods sold and cost of ending inventory using (1) FIFO and (2) average cost. (Round Average answers to 2 dedmal places, eg. 5.75) Average Cost of Goods Sold Ending Inventory e Textbook and Media Attempts lorsused SDL
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