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e thanks! Explain your answer please.. Marvin Company has a beginning inventory of 12 sets of paints at a cost of $1.80 each. During the
ethanks!
Explain your answer please..
Marvin Company has a beginning inventory of 12 sets of paints at a cost of $1.80 each. During the year, the store purchased 4 sets at $1.90, 6 sets at $2.50, 6sets at $2.80, and 10 sets at $3.30. By the end of the year, 25 sets were sold. Calculate the number of paint sets in ending inventory. Calculate the cost of ending inventory under FO, FIFO, and the weighted average methods. (Round your answers to the nearest cent.)Step by Step Solution
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