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Exercise 8-17 (Part Level Submission) Pina Football Shop began operations on January 2, 2017. The following stock record card for footballs was taken from
Exercise 8-17 (Part Level Submission) Pina Football Shop began operations on January 2, 2017. The following stock record card for footballs was taken from the records at the end of the year. Date 1/15 3/15 6/20 g,'12 11/24 Voucher 10524 11437 21332 27544 31269 Totals Terms Net 30 1/5, net 30 1/10, net 30 1/10, net 30 1/10, net 30 Units Received 450 Unit Invoice Cost $28 Gross Invoice Amount $1,876 1,886 2,247 1,717 1,488 $9,214 A physical inventory on December 31, 2017, reveals that purchases. @Your answer is correct. 111 footballs were in stock. The bookkeeper informs you that all the discounts were taken. Assume that Pina Football Shop uses the invoice price less discount for recording Compute the December 31, 2017, inventory using the FIFO method. (Round per unit and final answer to 2 decimal paces, e.g. 35.57.) Ending Inventory using the FIFO method 1776.0 Click if you would like to Show Work for this question: SHOW SOLUTION LINK TO TEXT Compute the 2017 Cost of Goods Sold Open Show Work Attempts: 1 of 3 used cost of goods sold using the LIFO method. (Round per unit and final answer to 2 decimal paces, e.g. 35.57.) using the LIFO method
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