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Indigo Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations: Date Explanation Units Unit Cost
Indigo Limited uses a perpetual inventory system. The inventory records show the following data for its first month of operations: Date Explanation Units Unit Cost Total Cost Balance in Units Aug Purchases 2 249 249 $72 $17.928 3 505 Purchases 754 96 48,480 466 10 (288) Sales 862 Purchases 15 1,328 107.750 125 1.009 25 (319) Sales Calculate the cost of goods sold and ending inventory using the FIFO cost method. Cost of goods sold $ Ending inventory$ e Textbook and Media Calculate the cost of goods sold and ending inventory using the average cost method. (Round average cost per unit and final answers to 2 decimal places, eg. 1.25.) Cost of goods sold $ Ending inventory $
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