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I NEED URGENT HELP LEASE AS THIS IS DUE IN HALF AN HOUR!! PLEASE AND THANK YOU IN ADVANCE!!! Kayla Co. uses a periodic inventory
I NEED URGENT HELP LEASE AS THIS IS DUE IN HALF AN HOUR!! PLEASE AND THANK YOU IN ADVANCE!!!
Kayla Co. uses a periodic inventory system and had the following activity for a single inventory item: Units Unit Cost Total Cost Sept 1, inventory 140 $2.50 $ 350 Purchases: Sept 5 200 3.50 700 Sept 10 140 4.50 630 Sept15 160 5.50 880 Sales: Sept 11 250 Sept 19 150 Determine the ending inventory and cost of goods sold using: a) FIFO (4 marks) b) Weighted average (round unit cost, and all amounts to the nearest cent) (4 marks) *Show any calculationsStep by Step Solution
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