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getting closer, this one has been so tricky Mark 1,00 out of 1.50 Question 2 Partially correct Flag question Inventory Costing Methods-Periodic Method Archer Company
getting closer, this one has been so tricky
Mark 1,00 out of 1.50 Question 2 Partially correct Flag question Inventory Costing Methods-Periodic Method Archer Company is a retailer that uses the periodic inventory system. August 1 Beginning inventory 110 units of Product A $1,600 total cost 5 Purchased 130 units of Product A 12,116 total cost 8 Purchased 230 units of Product A $4,416 total cost 11 Sold 180 units of Product A Calculate the August cost of goods sold and the ending inventory at August 31 using (a) first-in, first-out, (b) last-in, first-out, and (c) the weighted average cost methods Do not round until your final answers, Round your final answers to the nearest dollar A First in, first-out Ending Inventory 5.392 Cost of Goods Sold 2,740 8. Lastin, first-out Ending Inventory 4,676 Cost of Goods Sold 3 3,456 C. Weighted average cost Ending Inventory 5 5,018 Cost of Goods Sold 5 3,114 Step by Step Solution
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