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From Financial Accounting class . What value should I put on the place that is showing wrong?? Return to question 1 Cortez Company sells chairs
From Financial Accounting class. What value should I put on the place that is showing wrong??
Return to question 1 Cortez Company sells chairs that are used at computer stations. Its beginning inventory of chairs was 100 units at $60 per unit. During the year, Cortez made two batch purchases of this chair. The first was a 150-unit purchase at $68 per unit; the second was a 200-unit purchase at $72 per unit. During the period, it sold 270 chairs. 1 points Required Determine the amount of product costs that would be allocated to cost of goods sold and ending inventory, assuming that Cortez uses a. FIFO. Cost of Goods Sold Answer is complete but not entirely correct. FIFO Units Unit Cost 100 @ $ From beginning inventory From first purchase From second purchase 60 = 68 = Cost of Goods Sold $ 6,000 10,200 14.400 $ 30,600 150 @ 200 X @ 450 72= TotalStep by Step Solution
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