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how do I calculate ending inventory and cost of goods sold? And how do i do that when using FiFio and LiFiO, and how do
how do I calculate ending inventory and cost of goods sold? And how do i do that when using FiFio and LiFiO, and how do you come up with the weighted average to.
Units Cost per Unit $170 Total Cost $ 3,400 Date Transactions March 1 Beginning Inventory March 5 Sale ($240 each) March 9 Purchase March 17 Sale ($290 each) March 22 Purchase March 27 Sale ($315 each) March 30 Purchase 190 1,900 200 2,000 220 1,980 $ 9.280 Required: 1. Calculate ending inventory and cost of goods sold at March 31, using the specific identification method. The March 5 sale consists of bikes from beginning inventory, the March 17 sale consists o bikes from the March 9 purchase, and the March 27 sale consists of four bikes from beginning inventory and eight bikes from the March 22 purchase Ending inventory Cost of goods sold 3. Using LIFO, calculate ending inventory and cost of goods sold at March 31. Ending inventory Cost of goods sold 4. Using weighted average cost, calculate ending inventory and cost of goods sold at March 31. (Rour Ending inventory Cost of goods sold Step by Step Solution
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