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Flounder Limited uses the FIFO cost formula in a perpetual inventory system. Fill in the missing amounts for items [1] to [18] in the following
Flounder Limited uses the FIFO cost formula in a perpetual inventory system. Fill in the missing amounts for items [1] to [18] in the following perpetual inventory schedule:
\begin{tabular}{cccc} & \multicolumn{3}{c}{ Purchases } \\ \hline Date & Units & Cost \\ Apr. & 1 & & \\ & 6 & 26 & {[1]$} \end{tabular} $338 9 14 [13] $12$144 Cost of Goods Sold [4] 13 [7]\$ 11 [8]\$ [9] \$ [10] [14] [16] Balance Cost$16Total$208 [3] \$ [5] \$ [6] \$ [11] \$ [12] \$ [15]\$ [17] \$ [18] \$Step by Step Solution
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