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i am struggling on these questions. help please. A company has the following products in its ending Inventory. Compute lower of cost or market for
i am struggling on these questions. help please.
A company has the following products in its ending Inventory. Compute lower of cost or market for inventory applied separately to each product Cost per Market per Product Quantity Unit Unit Product A $ 704 $ 674 Product B $ 504 $ 544 Product C $ 654 $ 679 10 15 20 Multiple Choice $27680 $27,380 o $1,862 $28.480 After companies apply one of the four costing methods, inventory is reviewed to ensure it is reported at the: Multiple Choice Market value Historical cost Lower of cost or market. Replacement cost Retail value. Marquis Company uses a weighted-average perpetual inventory system and has the following purchases and sales: Date Activities Units Acquired at Cost Units Sold at Retail August 2 Purchase 10 units @ $42 = $420 August 18 Purchase 15 units @ $44 = $660 August 29 Sales 12 units sold What is the amount of the cost of goods sold for this sale? (Round average cost per unit to 2 decimal places.) Multiple Choice $1,080.00 $518.40 $660.00 $150.50 Step by Step Solution
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