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help asap!! is everything correct? company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells
help asap!! is everything correct? company reports the following beginning inventory and two purchases for the month of January. On January 26, the company sells 200 units Ending inventory at January 31 totals 150 units. Beginning inventory on January 1 Purchase on January 9 Purchase on January 25 Units 360 80 110 Unit Cost $3.50 3.70 3.80 Required: Assume the perpetual inventory system is used. Determine the costs assigned to ending inventory when costs are assigned based on the FIFO method Perpetual FIFO: Goods purchased Cost per Date units Cost of Goods Sold # of units Cost per Cost of Goods sold unit Sold Inventory Balance Inventory #of units unit Balance Cost per January 1 3601 $ 3.50 = $1.260.00 denuary 9 80 $ 3.70 3601 B01 $ 3.50 = $ 3.70 - $1,260.00 296.00 $1,556.00 January 25 110 als 3.80 301 $ 3.50 $1,280.00 Ch's 2-7 Saved Help Save & Exit Submit Perpetual FIFO: Goods purchased lol Cost per Date units unit Cost of Goods Sold #of Cost per Cost of Goods unit sold Sold Inventory Balance Cost per Inventory of units unit Balance units 360 $ 3.50 $1,260.00 January 1 January 9 80 @ $ 3.70 360 BO $ 3.50 = $ 3.70 $1,260.00 296.00 $1,556.00 January 25 110 s 3.80 360 $ 3.50 800 $ 3.70 11010 $ 3,80 $1,260,00 296.00 418.00 $1,974.00 January 26 360 $ 3.50 200 $ 3.70 5 3.80 50 1101 $1,200.00 74.00 0.00 $1,334.00 $ 3.50 53.70 $ 3.80 175.00 40700 Total 5582.00
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