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Goldbike Company uses a perpetual First-In, First-Out inventory system. The following circumstances and events took place in the last quarter of 2021: Beginning Inventory
Goldbike Company uses a perpetual First-In, First-Out inventory system. The following circumstances and events took place in the last quarter of 2021: Beginning Inventory First Purchase First Sale Second Purchase Second Sale Third Purchase Third Sale FIFO Perpetual Inventory Problem Number of Units $ Per Unit 42 $37 32 $38 36 $67 34 $39 38 $67 30 $40 42 $67 Use the above information to create a 9-column perpetual inventory table to track the events and determine ending inventory as well as cost of good sold for the period using the FIFO approach. It is extremely unlikely you will be able to complete this problem without having watching some of the videos (and taking them to heart).
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