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helpppp THE WA 1:50-10 Question 2 Not yet answered Marked out of 10.00 Tag question Periodic System-Calculating Ending Inventory and Cost of Sales using Average
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THE WA 1:50-10 Question 2 Not yet answered Marked out of 10.00 Tag question Periodic System-Calculating Ending Inventory and Cost of Sales using Average Cost The following information is available for Water Inc. Date Units Unit Cost january 1, 2020 cbeginning inventoryt 220 $50.00 Purchases january 10, 2020 165 52.00 330 $2.50 January 15, 2020 January 30, 2020 220 $5.00 The company maintains a periodic inventory system A physical inventory count shows 275 units in stock on January 31. What is cal ending inventory on January 31, and 5 cost of goods sold for January, using the average cost method? Round unit cost used in your calculation to two dipts after the decimal (For example, use a rate of $1.42 for $1.424 or use a rate of $1.43 for $1.4253 Round final answers to the nearest whole dollar & Ending wventory on January 31 b.Cost of goods sold for January Next O O Previous Save Answers Question 3 Not yet answered Marked out of 10.00 P Flag question Estimating Inventory Using Retail Inventory Method-Average Cost Rainey Retailers disclosed the following data for January. At Cost At Retail Beginning inventory $28,000 $36,400 Sales 434,000 Sales returned (items restored to inventory) 7,000 Purchases 210,000 420,000 Purchase returns 4,200 8,400 Freight-in 12,600 Calculate estimated ending inventory using the retail inventory method at average cost. Carry all decimals in calculations; round the final answer to the nearest dollar. Ending inventory $ Step by Step Solution
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