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Empire Stores experienced a computer malfunction that accidentally wiped out some of the inventory details for the month of January. Management was able to partially
Empire Stores experienced a computer malfunction that accidentally wiped out some of the inventory details for the month of January. Management was able to partially reconstruct the following spreadsheet for the month of January inventory transactions:
Empire uses the perpetual inventory system and the weighted average cost flow assumption for valuing inventory. All units sold in January were priced at $76.00/unit.
Calculate amounts for (a) through (p) to Assist Empire's management by completing the table. (Round calculations for cost per unit to 4 decimal places, e.g. 10.5264 and other answers to 0 decimal places, e.g. 61,052.) Date Sales Units 8,400 Jan 1 Beginnig Inventory 3 13 17 Sale Purchase 31 Purchase 27 Sale 29 Purchase Sale Totals (7,500) 4,600 5,500 700 6,200 (3,500) 2,700 5,300 (c) 2,300 (1) (k) $ 14 Cost/Unit $29.70 $29.70 $32.40 $37.40 $32.5726 $40.00 $36.2161 (e) (1) (1) $ $ Amount $249,480 $149,040 $175,770 $26,180 $ 201,950 $87,946 $104,000 $191,946 (d) (n) $ $ $ $ COGS (a) (9) (1) (0) $ $ $ $ (b) (h) (P)
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